Unilever and EVGA to Collaborate in Greek Ice Cream Sector

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.

Sep 30 2010 --- Unilever and EVGA announced 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 ?32 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.