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Yuengling’S Ice Cream Announces Acquisition Of Cybersecurity Firm Reachout Technology

Nov 16, 2023•over 1 year ago

Acquiring Company

Yuengling's Ice Cream Corporation

Acquired Company

ReachOut Technology

AtlantaMokenaHospitalityFood And BeverageManufacturingCyber SecurityConsultingInformation Technology

Description

Yuengling’s Ice Cream Corporation (“Yuengling’s” or the “Company”) (OTC: YCRM) is pleased to announce the acquisition of ReachOut Technology (“ReachOut”), Rick Jordan has assumed President & CEO role and been appointed a Director of Yuengling’s Ice Cream Corporation. Robert Bohorad, former President and CEO, and Everett Dickson, former Director, have stepped down but will assist with the transition.

Company Information

Company

Yuengling's Ice Cream Corporation

Location

Atlanta, Georgia, United States

About

Dating back to 1920, Yuengling’s Ice Cream is a family-owned business based in northeastern PA. Our 16 super-premium flavors are available in grocery stores from Maine to Florida. The ice cream line has a loyal following. While still in production, Yuengling’s Ice Cream was one of the most popular ice cream companies in the mid-Atlantic region. With availability of strong local manufacturing and a reputation for quality, we provide great value to our customers that can stand up to the competition. The production, milk and cream will all be local to Pennsylvania, making the brand PA Preferred. Though our origins began at the brewery, we are unaffiliated with it. Check out our history: www.yuenglings.com/history

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed