ORRVILLE, Ohio, Feb. 11 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJMA and SJMB), Orrville, Ohio, announced today that it had acquired a minority interest in Archibald Bros. Fine Beverages of Deland, Florida. According to Smucker, the interest acquired is coupled with an option on the part of Smucker to acquire the remainder of Archibald in the future at a predetermined formula price based on a multiple of Archibald's future earnings.
Archibald Bros. is a five-year-old company with a proprietary process (Flavor Injected Blending Apparatus, or "FIBA") with which it hopes to revolutionize the way restaurants and other foodservice outlets prepare and serve frozen desserts. According to Archibald Bros., the FIBA system eliminates the need for the complex, expensive machines that have become the standard for frozen desserts. Instead, foodservice operators can offer up to 36 flavors of desserts such as milk shakes, smoothies and frozen yogurts, at the push of a button.
"For fast-food chains and contract feeders, manufacturing products on-site is no longer practical," said Eric Miller, President of Archibald Bros. "Companies do not grind the meat and shape their hamburger patties, so why should they be forced to manufacture frozen desserts in the restaurant? The FIBA system allows foodservice employees to concentrate on serving the customer."
According to Mr. Miller, he and his team at Archibald Bros. invented the system based on his experience as a foodservice operator. The frozen dessert mix is made in an ice cream plant as a neutral-flavored mix and delivered by a chain's regular distributor already in the cup at 0 degrees F (Fahrenheit). To make a frozen dessert, the restaurant employee simply injects the desired flavor into the cup by pressing a button on the FIBA, spindles for 10 seconds, and hands the product to the customer. The process is simple to operate, creates no waste, and delivers customers precisely what they want -- a greater variety of flavors.
"Our company has recognized the potential of Archibald Bros. and its patent-protected FIBA system," said Richard Smucker, President of The J. M. Smucker Company. "We believe that the program offers great benefits for current and future customers."
Archibald Bros.' FIBA system is in limited tests with select major national restaurant chains.
The J. M. Smucker Company (http://www.smucker.com) is the nation's leading producer of branded preserves, jams, jellies, and other fruit spread products, health and natural foods beverages, ice cream toppings and natural peanut butter.
SOURCE J.M. Smucker Company
Web Site: http://www.smucker.com
