Home City Ice expands into Iowa
By acquiring Messerschmitt Ice, Home City Ice has expanded their geographic footprint into the state of Iowa. While Messerschmitt’s customers are primarily in Iowa, the company also made sales to Missouri and Illinois. Overall, by expanding geographic reach, Home City Ice can service more customers at a lower cost due to growing scale economies, likely bolstering company margin performance.
New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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