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Unilever to acquire Weis
Posted on Thursday, 10 August 2017 08:04
Dutch firm Unilever has agreed to snap up Australian ice cream and frozen dessert manufacturer Weis Australia for an undisclosed amount.
The terms of the deal, which is subject to the usual raft of conditions, were not disclosed.
Commenting on the purchase, chief executive of Unilever Australia & New Zealand, Clive Stiff, said: “We are delighted to bring Weis’ exciting and delicious range into our portfolio, adding another Australian favourite to our leading ice cream range.
“This acquisition will bring Weis the benefits of scale, strong market access and ice cream category expertise to help take the business to the next level in its growth.”
Following completion, Unilever will continue to develop its ice cream range, which already includes leading brands such as Grom, Ben & Jerry’s and Talenti.
Incorporated in 1957, Weis is a second-generation Australian ice cream and frozen dessert manufacturer.
The company’s products will continue to be made in its factory in Toowoomba, Queensland, using local ingredients.
Rotterdam-headquartered Unilever has a portfolio ranging from nutritionally balanced foods to indulgent ice creams, affordable soaps, luxurious shampoos and everyday household care products.
The group posted a turnover and net profit of EUR 27.70 billion and EUR 3.30 billion, respectively, in the six month ended 30th June 2017.
Unilever signed on the dotted line to purchase Massachusetts-based technology-based hair and beauty products maker Living Proof for an unknown sum in December last year.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 11 deals targeting ice cream and frozen dessert makers announced worldwide during 2017 to date.
The most valuable of these was Grupo Farga’s EUR 40.00 million acquisition of Spanish firm Grupo Kalise Menorquina in April.
Other targets include Drums Food International, Lotte Food and Gelato Fiasco.
© Zephus Ltd