Italian move for R&R Ice Cream

R&R Ice Cream has acquired an Italian own label ice cream manufacturer in a £60m deal.

The acquisition gives Northallerton-based R&R a presence in Europe’s largest ice cream market.
 
Eskigel achieved net sales of €81m (£63.6m) in the year to 31 December 2011.

The company’s product range includes ice cream sticks, ice lollies, cones, mini-cups, tubs and ice cream sandwiches.
 
James Lambert, R&R’s chief executive, said: “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.
 
“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.”