Unilever to acquire Betty Ice
Unilever has announced that it has signed an agreement to acquire the business of Betty Ice SRL, the Romanian ice-cream producer.
The value of the transaction is undisclosed. Betty Ice was founded in 1994 by Romanian entrepreneur Vasile Armenean with the vision of transforming the perfect dessert into a reality, creating natural tastes and flavours with carefully selected ingredients. Betty Ice is the main local ice cream producer in Romania, with a total turnover of €30 million.
The company owns one factory in Suceava and has more than 180 ice cream kiosks open during summer time. Betty Ice employs 760 employees in Romania. Unilever’s South-Central Europe Ice Cream division and Betty Ice will operate as a standalone unit within Unilever and will be led by Mr Vasile Armenean, who will act as a General Manager.
This partnership aims to further expand the brand by combining the strengths of the Unilever group with the local ice-cream market expertise and know-how of Mr Armenean.
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, Betty Ice General Manager, added: “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 agreement is subject to regulatory approval by the Romanian competition authorities.