Ferrero focuses on ice cream and acquires a majority stake in ICFC
Ferrero is continuing its series of acquisitions with a view to expansion in international markets.
Following the purchase of the Kellogg Company’s cookie, fruit snack, ice cream cone and pie crust business, the Alba, Italy-based group has acquired a majority stake in Ice Cream Factory Comaker (ICFC), Spain’s largest private label ice cream producer.
Led by Guillermo Lamsfus Bravo, who will stay on as general manager, ICFC was founded in 2003 and generates annual revenues of around €125 million. It has two facilities (in Alzira, Spain and Castel d’Ario, Italy) and 27 production lines with a daily output of 6 million ice creams.
According to the Spanish press, the deal is worth more than €100 million and will be completed in July 2019.