Ice cream giant Ferrero said it has entered a definitive agreement to acquire a controlling stake in Spanish ice cream manufacturer Ice Cream Factory Comaker or ICFC.
Headquartered in Valencia, ICFC produces a range of ice cream cones, sticks, tubs, cakes, and lollies. The firm has more than 700 employees at its production facilities in Alzira, Spain, and Castel d’Ario, Italy. The transaction is expected to be completed in July 2019.
According to the report, the Lamsfus family will remain a shareholder of ICFC and Guillermo Lamsfus Bravo will continue to lead the business as managing director.
Italy-headquartered Ferrero is the owner of international brands such as Nutella, Kinder Chocolate and Tic Tac. Last month, the company acquired a range of businesses from Kellogg in a deal worth USD1.3bn. Included in the transaction were Kellogg’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust divisions. Ferrero is present with more than 40,000 people in 56 countries and 25 production plants around the world.
As for ICFC, the firm activates in more than 15 countries worldwide leading the development of ice cream solutions with its clients.