Unilever to acquire EVGA
ice cream brands, network
Oct 7, 2010 7:00 AM
Unilever and EVGA have formed an agreement in which Unilever will acquire EVGA’s ice cream brands (which include Scandal, Variete, and Karabola) and distribution network for an undisclosed amount.
EVGA will retain its production and warehousing facilities and will manufacture both the current EVGA and some of Unilever ice cream branded products for the Greek market and for export.
This transaction will enhance Unilever’s Greek ice cream portfolio and will boost availability of its products to consumers via the expansion of the distribution network and enhanced innovation.
Recent Unilever investments in Greece include the 100% acquisition of ELAIS SA in 2006, expansion of its manufacturing capabilities in Rentis, and construction of a warehousing and distribution center in Schimatari.
As part of the agreement, about 65 employees of EVGA will transfer to Unilever. The agreement is subject to regulatory approval by the Greek competition authorities.
Unilever has operated in the Greek market under the Algida brand since 1982. Algida ice cream brands include Magic, Cornetto, Carte D’Or, Solero, and Vienetta.
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