Ferrero acquires controlling stake in ice cream company ICFC

By Jim Cornall contact

- Last updated on GMT

The deal for ICFC is expected to close by July 2019.
The deal for ICFC is expected to close by July 2019.

Related tags: Ferrero, Ice cream

Italian company The Ferrero Group has acquired a controlling stake in Ice Cream Factory Comaker (ICFC), a Spanish ice cream manufacturer.

Ice Cream Factory (ICFC) is a global food company that specializes in the designing and manufacturing of ice cream solutions.

ICFC, which has been in business for more than 55 years, is present in more than 15 countries worldwide, with more than 700 staff at production plants in Alzira, Spain, and in Castel d’Ario, Italy.

The company produces around 7m pieces per day, and supplies UK retailer Tesco, which accounts for between 15 and 20% of its production. Exports account for 65% of its turnover.

The ice cream maker is part of the Collaboration Plan for the Improvement of the Composition of Food and Beverages in Spain, promoted by the Ministry of Health, and has committed to reducing the sugar content of its products by 20% before 2020.

The Lamsfus family will remain shareholder of ICFC and Guillermo Lamsfus Bravo will continue to lead the business as managing director.

The transaction, subject to customary closing conditions and regulatory approvals, is expected to close by beginning of July 2019.

About Ferrero

With a consolidated turnover of more than €10.7bn, Ferrero is one of the market leaders of the sweet packaged foods market worldwide.

The company, which employs more than 40,000 people in 56 countries and has 25 production plants around the world, produces brands including Nutella, Ferrero Rocher, Tic Tac, Kinder Joy, Kinder Chocolate and Raffaello, which are present and sold in more than 170 countries.

Related topics: Manufacturers, Consolidation, Ice Cream

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