Unilever acquires GROM
Unilever today announced that it has acquired the premium Italian gelato business, GROM. The first GROM shop was opened in Turin in 2003 by friends Federico Grom and Guido Martinetti, with the vision of making the best gelato in the world, using only top quality ingredients. Today, GROM has over 60 gelato shops in Italy and around the world.
The Grom acquisition will strengthen Unilever’s ice cream portfolio and help to further capitalise on the growth of the premium gelato market. Grom will be run as a standalone unit, with Federico and Guido continuing to manage the business from its headquarters in Turin.
Kevin Havelock, President Refreshment Category, Unilever, said: “Unilever and Grom share the same passion for gelato and have aligned values in areas such as the sustainable sourcing of raw materials. Grom consumers will continue to enjoy the same taste and flavours they have always loved, while Unilever’s scale will give access to new markets, helping Grom to fuel growth”.
Angelo Trocchia, General Manager Unilever Italy said: “Unilever has deep roots in Italy, we started our operations here 50 years ago and have a beautiful portfolio of well known and loved brands, as well as four factories and 3,000 employees. I am sure that such Italian heritage, together with our knowledge of the ice cream category, will help us work with Federico and Guido to unlock new opportunities for Grom.”
Terms of the deal were not disclosed.
100 Victoria Embankment
London EC4Y 0DY
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; financial risks; failure to meet high ethical standards; and managing regulatory, tax and legal matters. 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 Group's Annual Report on Form 20-F for the year ended 31 December 2014 and the Annual Report and Accounts 2014. 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.