Sweetheart selling ice cream cone business

Maryland Watch

October 30, 1997

Sweetheart Cup Co. Inc. was founded as an ice cream cone-making business, but the company intends to sell off its Eat-It-All cones to concentrate on the making of paper and plastic products.

The Owings Mills-based company said yesterday that it will sell its baking division to Ace Baking Co. of Green Bay, Wis. The price was not disclosed.

Ace is expected to keep Sweetheart Cup's employees. The deal is expected to be completed Dec. 1.

The bakery division, which employs 320 people, represents 3 percent of Sweetheart Cup's business and is the only bakery item the company makes. Its ice cream cones are manufactured in Atlanta, Dallas, Chicago and Owings Mills. Eighty people are employed at the Owings Mills operation, said Daniel M. Carson, vice president and general counsel.

Carson said he believes the sale is good for the division, which would get more attention from Ace, a major manufacturer of ice cream cones.

"We are able to utilize the purchase price for reinvestment in our core business," he said.

Pub Date: 10/30/97

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