Unilever to acquire Romanian ice cream company Betty Ice
Unilever acquisition of Betty Ice : Unilever, a British-Dutch multinational consumer goods firm has clinched a deal to acquire Betty Ice, a Romanian ice cream company for an undisclosed price to bolster its ice cream business.
Betty Ice is among the leading ice cream manufacturers in Romania, with a turnover of €30 million. The Romanian ice cream company owns an ice cream factory in Suceava and has a workforce of 760 employees in Romania.
Betty Ice, which was established in 1994 by Romanian entrepreneur Vasile Armenean, has over 180 ice cream kiosks during summers.
Commenting on Unilever acquisition of Betty Ice, James Simmons – Managing Director of Unilever South Central Europe, 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.”
Unilever says that its South Central Europe Ice Cream division and Betty Ice will operate as an independent unit within the group. The two units will be led by Betty Ice founder Vasile Armenean, who will serve as a General Manager.
Unilever says that the partnership will look to further grow the Romanian ice cream brand by combining its own strengths with the local ice cream market expertise and Vasile Armenean’s knowledge.
Vasile Armenean – General Manager of Betty Ice General Manager, commenting on Unilever acquisition of Betty Ice, said: “In 23 years we have grown a great business in Romania, and we are proud that Betty Ice, the number 1 Romanian ice cream brand, will join the portfolio of the number 1 ice cream producer in the world. Our legacy and Unilever’s vision are a perfect match for the future of Betty Ice brand.”
Unilever acquisition of Betty Ice will be completed based on the receipt of regulatory approval by the competition authorities in Romania, as per the latest food acquisition news.