Specialty Ice Cream

Specialty Ice Cream

Roles
Chief Restructuring Officer, Chief Operating Officer
  • Appointed CRO
  • Improved vendor relations, lowered fixed costs
  • Transitioned new CEO
The company was a family-owned manufacturer of specialty ice cream and frozen novelty products. CR3 Partners was appointed CRO by the company’s Board of Directors to provide leadership to the management team, drive operational improvement initiatives, and support the sales process of the business. CR3’s work resulted in reduced overhead costs, improved customer relations and timeliness of product deliveries, and the identification and transition of a new CEO.

The Situation

  • Family-owned $25MM manufacturer of specialty ice cream and frozen novelties supplying natural food stores and major retailers
  • Company was undergoing change in senior leadership while pursuing sale of business
  • Company experienced acute operating and cash flow losses due to high fixed overhead costs and operational issues impacting delivery of products

The Work

  • Appointed CRO by Board of Directors to provide leadership to management team, drive operational improvement initiatives, and support sales process of business
  • Recommendations included operational restructuring initiatives and milestones, how to address certain cultural issues, and cost savings initiatives
  • Assessed near-term cash flow, negotiations with venders, implementing spending controls, and addressing operational issues impacting timeliness of product delivery

The Results

  • Company’s business model improved with lower fixed overhead costs, stronger relationships with customers and vendors, and enhanced culture
  • Identified and transitioned new CEO into leadership role in three months

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