R&R Ice Cream plc Acquires Eskigel Srl

Eskigel has been instrumental in growing the own label ice cream sector in Italy and we intend to build on this strong position ensuring continuity to the business and to customers’ relationships.

13 Aug 2012 --- R&R Ice Cream plc (R&R) is pleased to announce that it has acquired Eskigel S.r.l. for approximately €77 million.

Founded in 1952, Eskigel is the leading own label ice cream manufacturer in Italy and achieved net sales of €81 million in the year to 31st December 2011. Operating from a modern and flexible factory at Terni, north of Rome, Eskigel’s product range includes ice cream sticks, ice lollies, cones, mini-cups, tubs and ice cream sandwiches.

“This acquisition fully utilises the bond issued in November 2010 giving R&R an immediate and major presence in Europe’s largest ice cream market,” said James Lambert, CEO of R&R. “Eskigel has been instrumental in growing the own label ice cream sector in Italy and we intend to build on this strong position ensuring continuity to the business and to customers’ relationships. I am delighted that Stefania de Santis and Giuseppe Listanti have agreed to continue to manage the business as Chairman and Chief Executive of Eskigel, together with the existing management team, and we look forward to a long and successful partnership.”