Reddy Ice is the largest producer and packager of bagged ice in the United States. Although the origins of the company go back as far as 1927, it’s current history lies with the Southland Corp. Originally a minor division of the Southland Corporation, parent company of Seven-Eleven convenience stores, Reddy Ice was sold off to Suiza Foods in 1988. Reddy Ice was again sold to private investors, Centerbridge Partners, in 2000. The company went public in 2005.
In 2012, the company declared bankruptcy. As part of the bankruptcy procedure, Centerbridge Partners agreed to merge Arctic Glacier, which was also in bankruptcy at the time, with Reddy Ice and all debt was forgiven with the combination creating a new company.
Arctic Glacier was sold to the Carlyle Group in 2017.
Although CEO Deborah Conklin stated in January 2017 that the company had rebounded with increased profits due to a streamlined operation system, Bloomberg reported that Centerbridge Partners was considering selling Reddy Ice as of April 2019, although no final decision has been made.
Company headquarters are located in Dallas, Texas.
Reddy Ice
Reddy Ice is the largest producer and packager of bagged ice in the United States. Although the origins of the company go back as far as 1927, it’s current history lies with the Southland Corp. Originally a minor division of the Southland Corporation, parent company of Seven-Eleven convenience stores, Reddy Ice was sold off to Suiza Foods in 1988. Reddy Ice was again sold to private investors, Centerbridge Partners, in 2000. The company went public in 2005.
In 2012, the company declared bankruptcy. As part of the bankruptcy procedure, Centerbridge Partners agreed to merge Arctic Glacier, which was also in bankruptcy at the time, with Reddy Ice and all debt was forgiven with the combination creating a new company.
History
Arctic Glacier was sold to the Carlyle Group in 2017.
Although CEO Deborah Conklin stated in January 2017 that the company had rebounded with increased profits due to a streamlined operation system, Bloomberg reported that Centerbridge Partners was considering selling Reddy Ice as of April 2019, although no final decision has been made.
Company headquarters are located in Dallas, Texas.
