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Competition Council analyses Betty Ice taking over

The Competition Council analyses the transaction by which Unilever South Central Europe SA takes over Betty Ice SRL, a press release informs.

The competition authority will assess the economic concentration in order to establish its compatibility with a normal competitive environment and issue a decision within the time limits provided by the law.

Unilever has announced at end-January this year that it is set to acquire Romanian ice-cream producer Betty Ice.

Betty Ice was founded in 1994 by Romanian entrepreneur Vasile Armenean and is one of the most important players on the on the local ice cream producers market, with a total turnover of EUR 30 million. The company owns one factory in Suceava and has more than 180 ice cream kiosks open during summer time. Betty Ice has 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 a General Manager.

The value of the transaction has not been disclosed, but, according to sources in the market, the Anglo-Dutch consumer goods giant paid about EUR 100 million for the Romanian ice cream maker.

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