Spain: Ferrero to acquire remaining share of ICFC

Italian confectionery group Ferrero has announced the acquisition of remaining shares of the Ice Cream Factory Comaker and relevant group companies (ICFC).

Ferrero initially acquired a controlling stake in ICFC in July 2019, to support its long-term strategic goals in the ice cream market.

ICFC is a company specialised in private label ice creams distributing its product to several countries.

According to the company’s statement, during the last two years, there has been a strong collaboration and work of all employees and shareholders. The partnership between both companies has been very successful and it has settled an excellent base for future growth.

The transaction, which is subjected to customary closing conditions, is expected to be closed by December 2021.

Source: Ferrero