Item 8.01 Other Events.
Yuengling's Ice Cream Corporation's ("Yuengling's") binding Letter of Intent
("LOI") to acquire Revolution Desserts, LLC ("Revolution") has expired.
Yuengling's and Revolution have signed a new non-binding LOI.
Revolution owns or licenses the Gelato Fiasco, Sweet Scoops, Art Cream, and SoCo
Creamery brands. Revolution was founded by Robert Carlson and, in addition to
Mr. Carlson, is currently being run by Charles Green. Mr. Carlson and Mr. Green
will remain with Yuengling's post close.
Mr. Green has 40+ years in the ice cream, logistics, and consumer packaged goods
(CPG) industries. He is best known for his time at Ben & Jerry's where he led
the company's national and international expansion. Since leaving Ben &
Jerry's/Unilever, Mr. Green has worked with a number of other ice cream brands
such as Steve's Ice Cream, Ample Hills, and Jenni's.
Mr. Carlson has more than 30+ years in the frozen desserts business. Prior to
Revolution, Mr. Carlson helped relaunch Yuengling's Ice Cream in 2014. Before
Yuengling's, Mr. Carlson was involved with numerous companies such as Sunkist
Frozen, Brigham's Ice Cream and Ben & Jerry's.
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