Unilever and EVGA to collaborate in Greek Ice Cream Sector
Unilever and EVGA announced today that they have signed an agreement under which Unilever will acquire EVGA’s ice cream brands (amongst others, Scandal, Variete and Karabola) and distribution network, for an undisclosed amount.
EVGA will retain its existing production and warehousing facilities and will manufacture both the current EVGA and some of Unilever ice cream branded products for the Greek market and for export.
This deal will enrich Unilever’s Greek ice cream portfolio and will increase availability of its products to consumers through the expansion of the distribution network and enhanced innovation.
Unilever Greece’s Chairman, Mr. Spyros Dessyllas, commented: “I am very pleased that Unilever joins forces with EVGA, the company which is responsible for creating the Greek branded ice cream market. This agreement is an important demonstration of Unilever’s commitment to Greece and of its determination to make the most of opportunities for growth, despite the difficult economic environment.”
Recent Unilever investments in Greece include the 100% acquisition of ELAIS S.A. in 2006, the expansion of its manufacturing capabilities in Rentis and the construction of a warehousing and distribution center in Schimatari.
Mr. Kyros Filippou, EVGA’s Vice Chairman stated: “This partnership will build on our combined strengths, and provide continuity, new investments and growth. I am confident that EVGA’s strong heritage and experience will make a major contribution to the continued success of EVGA and Algida ice creams in Greece”.
EVGA’s ice cream turnover in 2009 was Є32 million. As part of the agreement, approximately 65 employees will transfer to Unilever. The agreement is subject to regulatory approval by the Greek competition authorities.
About Unilever in Greece
Unilever works to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others.
We are one of the world’s leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries. In Greece, the Unilever group operates in the food, household and beauty & personal care sectors through Elais Unilever Hellas. It is one of the largest FMCG companies, with an annual turnover of 598 million euros in 2009. The company distributes approximately 1,800 SKUs and is one of the most important suppliers of retailers, while its products are situated in 35 different spots in the super market shelves.
The company’s headquarters are situated in Maroussi, Athens, while it operates four factories in Rentis, Pireaus, Schimatari and Gastouni. Today, Elais Unilever Hellas employs 800 people.This agreement is a new step in Unilever Hellas’ important investment program in Greece. Unilever acquired 100% of ELAIS S.A.’s shares in 2006 and recently invested in broadening its manufacturing base in Greece with the expansion of its factory in Rentis and in the construction of a warehousing and distribution centre in Schimatari.
For more information about Unilever and its brands, please visit www.unilever.gr
Algida - Unilever’s ice cream sector in Greece
Unilever, global leader in ice cream, operates in the Greek market under the Algida brand since 1982. Algida launched innovative and pioneering products, by Greek standards, which were quickly established and created trends in the ice cream market. Among them the well-known brands Magic, Cornetto, Carte D’Or, Solero and Vienetta.
For more information, please visit www.algida.gr
EVGA - A pioneer in the Greek ice cream industry
Since 1934, EVGA a “purely” Greek company, has been innovative and a pioneer in its field, carrying a wide range of products, under successful brands, such as Status, Scandal, 4X4, Karabola and Variete. In 1936, it became the first company to produce branded ice cream in the Greek market. Its production is carried out in its privately owned factory in Votanikos, Athens.
ELAIS, 74 Athinon-Pireos Str
Gr-185 47 Piraeus
+30 210 630 4910
100 Victoria Embankment
London EC4Y 0DY
+44 (0) 207 822 5252
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 'expects', 'anticipates', 'intends', 'believes' or the negative of these terms and other similar expressions of future performance or results, including financial objectives to 2010, 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 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, including, among others, competitive pricing and activities, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. 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 the Annual Report & Accounts on Form 20-F. 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.