Unilever, Englewood Cliffs, N.J., signed an agreement to acquire Betty Ice SRL, a Romanian ice cream producer.
Betty Ice was founded in 1994 by Romanian entrepreneur Vasile Armenean. The company owns one factory in Suceava, maintains more than 180 ice cream kiosks and 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 Vasile Armenean, who will act as general manager. This partnership aims to further expand the brand by combining the strengths of the Unilever group with Armenean’s local ice cream market expertise and knowhow.
“We are delighted that Betty Ice will join the Unilever family,” says James Simmons, managing director, Unilever South Central Europe. “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.”
“In 23 years, we have grown a great business in Romania, and we are proud that Betty Ice, the No. 1 Romanian ice cream brand, will join the portfolio of the No. 1 ice cream producer in the world. Our legacy and Unilever’s vision are a perfect match for the future of Betty Ice brand,” adds Armenean.