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Unilever to acquire Romanian ice cream manufacturer Betty Ice

FBR Staff Writer Published 01 February 2018

Consumer goods company Unilever has agreed to acquire Romanian ice cream manufacturer Betty Ice for an undisclosed price.

Betty Ice, which has revenue of €30m, was founded by Romanian entrepreneur Vasile Armenean in 1994.

The company owns a production factory in Suceava, Romania and employs 760 people in the country.

Betty Ice manufactures three categories of ice cream products that include standards, premium and super-premium, which are sold under nearly 60 assortments.

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.”

Unilever said that Armenean as a general manager will lead the group’s South Central Europe Ice Cream division and Betty Ice, which will be operated as an independent division under its fold.

The consumer goods giant plans to expand the Betty Ice brand further by tapping on the local ice-cream market expertise and knowhow of Armenean.

Armenean 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.”

The acquisition will be completed after the approval of the Romanian competition authorities.

Last month, Unilever entered into a €6.825bn deal to sell its margarine and spreads business to investment firm KKR.

Image: Betty Ice produces three categories of ice cream products. Photo: courtesy of Unilever 2018.