ORIGINAL STORY
After 74 years in existence at North Vermilion and Ridgeview, going back to 1949, Custard Cup is for sale. Ag Exchange will be hosting a live auction at 10 AM; Thursday, October 26th in the Turtle Run Banquet Center. Ag Exchange owner and managing broker Stephanie Spiros says this sale will include the business, including equipment, inventory, goodwill, the “Custard Cup” name, and the right to use the proprietary Custard Cup ice cream mix within the geographic boundaries of Vermilion County, Illinois.
Spiros says Ag Exchange was approached earlier this year by Custard Cup co-owners Rodney Smart and Doug Jarling to assist with this sale. She says the auction on October 26th will be either in-person or on line. If you plan to participate online, please register ahead of time by going to agexchange.com, or ag-exchange.com. Either address will work; terms and conditions can be found there as well.
If you plan to be at the auction live, you may register on location.
Audio PlayerAUDIO: And so the auction will begin, and we’ll outline the terms and conditions of the sale. And then we will explain to them and take opening bids. And then we will go from there, and it will be open outcry of auction; and you’re allowed to bid as long as you are registered.
Spiros says the owners did not share with Ag Exchange the reason for the sale at this time. But Spiro also says, Ag Exchange is honored to be involved.
Audio PlayerAUDIO: The Danville tradition of the Custard Cup is so well known. And it’s an iconic place that creates so much nostalgia for the community. So we’re honored to be a part of this process, and honored that the family has hired us.
The winner of the auction will need to provide a 10% earnest money check, in addition to signing the purchase agreement. The official Custard Cup address is 2507 North Vermilion.
