Multinational consumer goods firm Unilever has signed an agreement to acquire Romanian ice-cream producer Betty Ice for an undisclosed amount.
Founded in 1994 by entrepreneur Vasile Armenean and with a total turnover of €30 million ($37 million), Betty Ice operates a manufacturing facility in Suceava as well as more than 180 ice-cream kiosks, employing 760 workers in Romania. Betty Ice sells ice cream positioned as standard, premium and super-premium with approximately 60 different product lines.
In a company press release, Unilever said that its South Central Europe Ice Cream division and Betty Ice would operate as a standalone within the wider group.
Commenting on James Simmons, Managing Director 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”.
Vasile Armenean, former Betty Ice owner and new general manager of the partnership, commented: “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”.
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