Unilever buys top selling US gelato-maker Talenti
Anglo-Dutch food and cosmetics giant Unilever said Tuesday it had bought best-selling US-based gelato maker Talenti for an undisclosed amount, boosting its stake in the under-performing ice cream market.
"Unilever today announced that it has acquired Minneapolis-based Talenti, which was founded in 2003 and has grown into the best selling packaged gelato in the United States," Rotterdam-based Unilever said in a statement.
Talenti, which boasts 30 flavours such as Sea Salt Caramel and Sicilian Pistachio is expected to have a 2014 turnover of more than $120 million (96 million euros), Unilever added.
It can be found at 40,000 retail sites across the United States and some 87 million pints (41 million litres) of Talenti Italian gelato have been sold since 2007, according to US media reports.
Unilever last month said third quarter sales of its star ice creams like Magnum and Cornetto have dipped, particularly in Europe, blamed partly on poor summer weather.
In the United States, ice cream sales also slowed last year as a result of tough economic times, said British-based food and drinks business research company Mintel.
"Keeping new products in line with consumer interest in innovation, flavour and affordability will be key to cooling sales losses and keeping consumers sweet on frozen treats," Mintel said on its website.
Founded in 1930, Unilever is one of the world's leading suppliers of consumer goods and owns a variety of ice brands including Magnum, Cornetto, Ben & Jerry's and Popsicle.
It employs more than 173,000 people worldwide.
© 2014 AFP