‘Penguins’ to be renamed after new owner
Penguin’s is taking the step to rename its namesake brand after its new owner, The Associated Press has learned.
The company announced Wednesday it would rename its flagship ice cream and bakery brand after new owners Dan and Karen Seabrook.
Penguin’s Ice Cream and Baking will now be known as Penguin’s Penguin.
As part of the move, Penguin will continue to offer its namesake brands, including Kreme and Nectar, under a new brand name.
Karen Seabros, who bought the company in March 2016, will be the new owner of Penguin.
She will join the company as president and chief executive officer.
This will mark the third time Penguin’s has changed its name, and it will also mark the first time the name has been changed since 2006.
Penguin’s ice cream will remain the same.
In a statement Wednesday, the Seabrows said they wanted to “set a new standard for quality, consistency and sustainability” in the ice cream industry.
The Seabrros, a former retail executive, say they will donate 50 percent of profits from Penguin’s products to charity.
“Our goal is to continue our mission to be an innovator in providing our customers with the best quality and convenience,” Karen Seabee said.
Sebabros has worked with Penguin’s Ice cream for more than 20 years, serving as chief executive from 2010 to 2017.
Under her leadership, Penguin’s transitioned to a “leaner, more sustainable, more environmentally responsible” business model, according to its corporate website.
According to its annual report, Penguin recently earned $2.7 billion in revenue, with an operating profit of $2 million.
Its revenue in the fourth quarter of 2018 totaled $4.9 billion, according the company’s annual report.
The family-owned ice cream brand was founded in 1962 and is based in the city of Syracuse, New York.