Unilever to acquire Weis ice cream business in Australia
Sydney & Toowoomba - Unilever today announced that it has entered into a definitive agreement to acquire Weis, an Australian ice cream business.
Weis is a second-generation Australian ice cream and frozen dessert manufacturer, founded in 1957 by Les Weis with the original iconic Fruito Bar. Its unique range features a variety of ice cream formats including single bar, multi-pack bars, dairy-free sorbet tubs and frozen yogurt tubs. Weis ice creams will continue to be made in its factory in Toowoomba, Queensland, using locally sourced, natural and high-quality ingredients.
Unilever continues to develop its ice cream range to offer consumers around the world more innovative flavours and formats. Weis’ values and products will help meet increased consumer demand for ice cream made with premium ingredients, joining Unilever brands Grom, Ben & Jerry’s and Talenti in this high-growth segment.
Clive Stiff, Unilever Australia & New Zealand CEO said: “We are delighted to bring Weis’ exciting and delicious range into our portfolio, adding another Australian favourite to our leading ice cream range. This acquisition will bring Weis the benefits of scale, strong market access and ice cream category expertise to help take the business to the next level in its growth.
“We are committed to providing Weis consumers and customers with the same exceptional products with the same high quality natural ingredients. We look forward to welcoming Weis’ strong, dedicated and passionate team to Unilever.”
Weis Managing Director, Julie Weis said: “Our family made this decision because Unilever demonstrated their understanding of our brand, our products and how important our people and the Toowoomba manufacturing site are in ensuring Weis’ success into the future. In addition Unilever’s scale will enable greater market access and growth that will provide opportunities for our extended Weis family of staff, suppliers, customers and of course our wonderful consumers. “
The acquisition is subject to customary closing conditions. Terms of the deal were not disclosed.
This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the “Group”). They are not historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; the effect of climate change on Unilever's business; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2016 and the Unilever Annual Report and Accounts 2016.