Jeni's Splendid Ice Creams announced its latest ingredient: private-equity investment. The Columbus-based maker of premium ice creams agreed to sell an ownership stake to Castanea Partners, a Boston-based private-equity firm. Terms of the deal were not released, but Castanea's website says: "We typically invest between $15 million-$150 million of equity in businesses where we have investing and operating expertise."

Jeni's Splendid Ice Creams announced its latest ingredient: private-equity investment.

The Columbus-based maker of premium ice creams agreed to sell an ownership stake to Castanea Partners, a Boston-based private-equity firm. Terms of the deal were not released, but Castanea's website says: "We typically invest between $15 million-$150 million of equity in businesses where we have investing and operating expertise."

Castanea Partners becomes a part owner of the privately Jeni's alongside founder Jeni Britton Bauer; her husband, Charly Bauer; brother-in-law Tom Bauer; and CEO John Lowe, according to a press release.

In a blog post on Jenis.com, Britton Bauer said the investment gives Jeni's the wherewithal to improve and expand.

"Our new partnership with Castanea gives us the the opportunity to make better ice cream � more direct trade ingredients, new equipment, more studies in our R&D kitchen, more talent on our team and to open more scoop shops, places for people to get to know each other better, to conspire with one another, to fall in love."

Jeni's has 23 scoop shops spread from California to South Carolina.

To continue to add shops and manage a new supply chain that includes contract manufacturers after last year's listeria outbreak, the company needs cash, said John Gordon, principal of Pacific Management Consulting, a food and beverage consultancy. But bringing a new owner on board comes with new voices and ideas.

"The motive for Jeni�s is money to expand," Gordon said. "They'll provide advice and systems and enable Jeni�s to get to the next level of sophistication."

Jeni's almost joined with a private-equity firm last year, but canceled the deal because it didn't feel right, Lowe said. The company also weathered a massive recalland two production shutdowns resulting from the discovery of listeria in pints of its ice cream and at its Michigan Avenue production kitchen.

Castanea has investments in Fitness Anywhere, the maker of TRX suspension trainers, First Aid Beauty and a number of other companies.Castanea has investments in Fitness Anywhere, the maker of TRX suspension trainers as well as First Aid Beauty and a number of other companies.

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