Details are more than a little sketchy, but Yuengling’s Ice Cream Corp. late in August revealed a letter of intent to merge with a Texas-based music and entertainment software company. The announcement was not clear but it looks like Yuengling’s Ice Cream is out of the ice cream business.
“The entity resulting from the Proposed Transaction will continue to carry on the business of PickleJar as a content-driven media network and live entertainment technology services provider, unifying every touchpoint of the fan experience for emerging artists, mid-sized venues, and global brands.” They didn’t say anything about making ice cream.
Again, the wording was vague, but it may be a way for PickleJar to become a public company. Yuengling’s Ice Cream was public, on the OTC exchange, although its stock had sunk to hundredths of a cent; a year ago it was 3 cents. The proposed transaction includes changing the company name to PickleJar Entertainment Group.
We sent emails and left voicemails for the ice cream company, but no responses.
Under the terms of the deal, PickleJar is expected to hold a majority stake in the business, which will continue to be listed on the OTC exchange. PickleJar people are taking over the executive positions.
Yuengling’s Ice Cream was founded by Frank Yuengling in 1920 to support the family brewery during Prohibition, which lasted from January 1920 to December 1933. Spun off as a separate company from the brewery in 1935, Yuengling's made gourmet ice cream products in central Pennsylvania. The company discontinued production in 1985 when no family successor emerged. In 2014, the brand was revived with plans to expand the brand’s production and distribution. However, in 2022, the corporate reorganization resulted in plans to take the company private to consider the relaunch of its products in this summer.
