ATLANTA, GA / ACCESSWIRE / May 20, 2020 / Aureus, Inc. (OTC PINK:ARSN), a food brand development company focused on acquiring and growing well-established food brands, announced today that Yuengling’s Ice Cream (“Yuengling’s”), is benefiting from the passage of the CARES (Coronavirus Aid, Relief, and Economic Security) Act and, in parallel, is working on restructuring its debt.
Through the CARES Act, Yuengling’s has qualified for six months of payment relief from its SBA loan. “This is not a payment deferral, but rather the payments are actually being made by the Government,” commented Everett Dickson, Aureus’s President. This economic relief is allowing Yuengling’s to focus those funds, previously committed to debt, into growing the business and the brand.
Yuengling’s also is working with its senior lender on restructuring its remaining debt. “A restructuring will be enormously helpful in our ongoing efforts to strengthen the company and position it for the growth that we all believe it is capable of,” stated Dickson.
About Aureus, Inc.
Management and ownership recently changed hands. The new focus is on acquiring specific assets in and related to the food industry, with a focus on ice cream. Aureus owns the assets and trademarks of the Yuengling’s Ice Cream brand, and the exclusive right to market and sell the products of the brand. The goal of Aureus in the operation to consolidate all factors that are positive for the Yuengling’s brand into a synergistic success for Aureus shareholders as well as the next generation of Yuengling’s consumers.
About Yuengling’s Ice Cream
Developed by American businessman, Frank D. Yuengling, as a dairy business to help support the Yuengling family brewery during Prohibition (1920-1933), Yuengling’s Ice Cream has a strong tradition of making exceptional super-premium ice cream products in central Pennsylvania. David Yuengling and Rob Bohorad revived the brand in 2014 and an American classic was reborn. The fan-favorite brand continues advancing its legacy and its renowned dairy quality, by using locally sourced dairy ingredients that contain no added hormones. Yuengling’s Ice Cream is a super-premium ice cream, which means it has a butterfat content of 14% or greater. In addition to having high butterfat, Yuengling’s also has low overrun (or a lower amount of air). This makes the ice cream less whipped and much more dense. Yuengling’s also is constantly working to keep its product as “clean” as possible, by using as few ingredients as necessary, and those that are used are of a very high quality. The brands Yuengling’s is most similar to are Häagen–Dazs and Ben & Jerry’s.
The Yuengling’s Ice Cream Corporation- as it’s been since 1935- is stand alone, and separately owned and run companies from D. G. Yuengling and Sons, Inc Brewery
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SOURCE: Aureus Incorporated
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