Armstrong Group Acquires The Ziegenfelder Co.
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The Ziegenfelder Company, the Wheeling-based frozen treat manufacturer that has grown into a national brand with its Budget Saver product, has been acquired by the Armstrong Group in Butler, Pennsylvania, the two companies announced Thursday morning.
According to a release from Ziegenfelder, the Armstrong Group will continue manufacturing the Budget Saver brand in existing facilities located in Wheeling, Chino, California, and Denver, Colorado. Current Ziegenfielder CEO Kevin Heller will remain in that role, along with all other seasoned leadership.
Lisa Allen, former CEO & majority owner, expressed her excitement for the new partnership.
“We are so proud of what the Ziegenfelder team has accomplished over the past 30 years,” Allen said in the release. “Our business is once again facing exciting growth opportunities and our leadership team is ready to step in and continue driving that growth.
"We felt that partnering with Armstrong was a perfect match,” Allen continued. They are privately owned and operated like us, they get our culture, and they have a history of supporting growing businesses effectively."
The Armstrong Group was selected for the acquisition because they closely mirror the business philosophy and culture of The Ziegenfelder Company, according to the release. The acquisition expands the Armstrong Group portfolio, adding to operating companies that include interests in broadband, video, telephone, security, real estate, electronic manufacturing, HVAC, and now, frozen treat manufacturing.
"We are excited to add a company with the rich heritage of Ziegenfelder," said Dru Sedwick, President and CEO of The Armstrong Group. "Their family-centric approach matches well with our culture. Their product offerings are highly regarded in the frozen novelty space, providing great taste at a great value."
The Ziegenfelder Company has been in the frozen novelty business for more than a century, growing the Wheeling company into a national brand that can be found in stores throughout the United States.