Unilever has completed the acquisition of Betty Ice

Unilever has completed the acquisition of Betty Ice

Unilever announces that the acquisition of Betty Ice has been completed after signing the agreement of the two parties in January 2018.

The Romanian Competition Council approved the agreement on the basis of the assumed commitments and Betty Ice became the newest member of the Unilever family.

Betty Ice Company was founded in 1994 by the Romanian entrepreneur Vasile Armenean, with the vision of translating the perfect dessert into reality, creating products with taste and natural flavors from carefully selected ingredients. Betty Ice is the leading local ice cream maker in Romania, with a total turnover of 30 million euros. The company owns a factory in Suceava and has over 180 ice cream kiosks open during the summer. Betty Ice has 760 employees in Romania.The ice cream division of Unilever Romania and Betty Ice will work together, combining Unilever global vision and capabilities with Betty Ice's expertise and know-how. The goal is to build a better business, capable of providing the Romanian consumer with a portfolio of products to meet the expectations of each segment, both in terms of price and taste.

Vasile Armenean, founder of Betty Ice, will continue to lead this business as General Manager of the company.

James Simmons, Managing Director of Unilever South Central Europe, said: "The acquisition has come to an end and we are glad to welcome the Betty Ice brand to our family. The changes we have agreed with the Competition Council will have an impact on our business, but our mission is to serve our consumers, so we will respect the decision and focus on our sustainable growth plan. Joining our teams is part of our goal to provide the best quality ice cream to each novel".

Vasile Armenean, General Manager Betty Ice: "Today is an important day in the history of Betty Ice. We are proud that a brand of Romanian ice cream has joined the portfolio of a global leader in this segment. Our inheritance and Unilever vision are a perfect match to ensure the future of Betty Ice".

The operations of the two companies will continue while efforts are being made to integrate, providing consumers with quality ice cream and preparing interesting innovations. The financial terms of the transaction remain undisclosed, based on a common agreement.