Ice Cream Heir David M. Smith, Founder of Smith Global Ventures, Establishes The Frozen Happiness Initiative

Smith's father, Richard E. Smith, created the super premium ice cream brand Frusen Glädjé in the 1980s, which means "Frozen Happiness" in Swedish. Frusen Glädjé Ice Cream pints were packaged in innovative white domed containers, sold in supermarkets, and competed with Haagen-Dazs until the brand was acquired by Kraft Foods. Although Frusen Glädjé Ice Cream hasn't been on the market for decades, the iconic brand is remembered by many and is still referenced today in popular TV shows, most recently in Seth MacFarlane's sci-fi spoof "The Orville."

Smith stated "What better way to honor my father, Richard, than to name this new initiative after the famous ice cream brand that he created." The purpose of The Frozen Happiness Initiative is twofold- to help support important charitable organizations which are making a difference in the lives of adults, children, animals, and the environment, and to identify innovative new startups, focused on the ice cream and frozen dessert sector. Through Smith's experience, The Frozen Happiness Initiative would help guide these startups through the treacherous waters that many new businesses face, provide access to early stage capital, and help bring their innovative product to market at the appropriate time.

Smith further commented "The global ice cream industry is valued at approximately $55 billion in revenues, however frozen dessert innovation has been stagnant for decades and consumers have grown tired of the same products, flavors, and form factors such as pints, half gallons, and novelties. I'm hoping, through The Frozen Happiness Initiative, we will be able to support important charitable organizations and see more excitement and innovation in the frozen dessert segment."

SOURCE Smith Global Ventures

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