Unilever has signed an agreement to acquire Romanian ice cream producer Betty Ice as it continues to bolster its global ice cream portfolio.
The move will complement Unilever’s Algida and Napoca ice cream brands, which both operate in the country. Last year, Unilever expanded with the acquisition of Australian business Weis. It also owns Ben & Jerry’s and Grom.
Unilever has been under pressure to improve its ice cream unit, which suffered last year as a result of rival Halo Top growing in popularity with its low-calorie products.
After completion of the deal, Unilever’s south central Europe ice cream division and Betty Ice will operate as a standalone unit within Unilever and be led by Vasile Armenean, who will act as a general manager.
Unilever said this partnership aims to “further expand the brand by combining the strengths of the Unilever group with the local ice cream market expertise and knowhow of Mr Armenean”.
Unilever south central Europe managing director James Simmons said: “We are delighted that Betty Ice will join the Unilever family. Betty Ice is a wonderful business, much loved by Romanians. I am also very pleased that Vasile Armenean has decided to join our company. He is an outstanding entrepreneur and he will play an instrumental role in creating a bright future for this new business.”
Vasile Armenean added: “In 23 years we have grown a great business in Romania, and we are proud that Betty Ice, the number one Romanian ice cream brand, will join the portfolio of the number one ice cream producer in the world. Our legacy and Unilever’s vision are a perfect match for the future of Betty Ice brand.”
Betty Ice was founded in 1994 by Vasile Armenean with the vision of “transforming the perfect dessert into a reality, creating natural tastes and flavours with carefully selected ingredients”.
The company is the main local ice cream producer in Romania, with a total turnover of €30 million. It owns one factory in Suceava and has more than 180 ice cream kiosks open during summer time. Betty Ice employs 760 employees in Romania.
The deal is subject to regulatory approval by the Romanian competition authorities.
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