Arctic Glacier Holdings, Inc.

Arctic Glacier Holdings, Inc.

February 11, 2013 09:00 ET

Arctic Glacier Names New CEO

Fred Smagorinsky Appointed CEO of Arctic Glacier Holdings, Inc.

WINNIPEG, MANITOBA--(Marketwire - Feb. 11, 2013) - Arctic Glacier Holdings, Inc. ("Arctic Glacier" or the "Company"), the leading provider of packaged ice to over 75,000 retail accounts in 6 Canadian provinces and 26 U.S. states, today announced that Fred Smagorinsky has joined the Company as CEO. Mr. Smagorinsky also joins Arctic Glacier's board of directors and is an equity investor alongside H.I.G. Capital in the Company. Most recently, Mr. Smagorinsky was the CEO of Marcal Manufacturing, a leading consumer packaged goods company, which experienced significant growth in customer acquisition and profitability under his leadership. Mr. Smagorinsky succeeds Keith McMahon, CEO of the company since 2007.

Prior to Marcal, Mr. Smagorinsky was CEO of a building supplies business and was at Sealed Air, a global packaging business in a wide range of senior executive roles including VP, Corporate Sales & Marketing and McKinsey & Company, a leading multinational strategy consulting firm. Mr. Smagorinsky has an undergraduate degree in engineering from Princeton University and an MBA from the Yale School of Management. Mr. Smagorinsky will begin with Arctic Glacier immediately.

"I am very excited to be joining the Arctic Glacier team," remarked Smagorinsky. "I have been privileged to work in companies whose success was fueled by strong cultures of customer service and operational excellence. The opportunity to contribute to the growth of an organization characterized by industry-leading quality, reliability and service is extremely gratifying to me. Arctic Glacier is renowned by its customers for its high quality products and tremendous operational capabilities. I look forward to working with the Arctic Glacier team as we lead Arctic Glacier through its next stage of growth."

Arctic Glacier was acquired in July 2012 by H.I.G. Capital. Bret Wiener, Managing Director of H.I.G. commented that, "Fred has a tremendous track record of growing consumer goods businesses and has the right hands-on operational experience to direct and successfully execute Arctic Glacier's strategic plan. We welcome Fred to the Company and look forward to the continued growth of Arctic Glacier. "

About Arctic Glacier

Arctic Glacier is the leading producer, marketer and distributor of packaged ice, with a strong and loyal customer base across Canada and the United States. Arctic Glacier operates a network of 86 production plants and distribution facilities that provide ice to over 75,000 retail locations. The Company's main product is packaged ice, primarily under the brand name Arctic Glacier® Premium Ice. The Company also sells other products such as bottled water, dry ice, packaged wood, rock salt and sells and leases ice-making and dispensing equipment in certain markets. For more information, visit www.arcticglacier.com.

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