Fresh produce firm Greenyard has announced the expansion of its plant-based product range with the acquisition of Dutch-Italian dairy-free ice cream startup Gigi Gelato.
Gigi Gelato uses fruit and vegetables to create a plant-based healthy alternative to gelato with no dairy, additives, or artificial aromas, the company said.
Following the acquisition by Greenyard, the company is aiming to have access to a much wider market within the frozen category.
Commercial Springboard
Greenyard said it aims to use its relationships with retailers and foodservice partners to serve as a commercial springboard for this new product category within frozen fruits and vegetables.
The team that founded Gigi Gelato will remain on board to support the product's commercial strategy and innovation process, it added.
The three flavour combinations currently available as part of the Gigi Gelato range include strawberry, blueberry and beetroot, along with mango, passion fruit and fennel, and finally, ginger, orange and carrot.
Each of the flavours are currently sold in packs of three lollies, each weighing 70 grams.
'Stimulate Consumption'
"This is an important step in our journey to market innovative and convenient products that stimulate the consumption of fruit and vegetables," said Kobe Vanhaecke, Greenyard Frozen Belgium’s commercial director.
"By expanding our frozen product range, we can now provide broader market availability for this revolutionary pure-plant product innovation. With the support of the original founders and our in-house expertise, we are confident Gigi Gelato will be a formidable contender for the ice cream industry.”
Read More: Greenyard Sees Sales Up 7.3% In First Half, Driven by Price Increases
Refinancing Agreement
Last September, Greenyard announced it had closed a refinancing agreement for €420 million.
The agreement offers Greenyard room to grow over the five-year maturity period of the loans and execute its Strategy 2030.
© 2023 European Supermarket Magazine – your source for the latest fresh-produce news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
