Investment management firm Davidson Kempner, supported by operating partner Afendis, has completed the acquisition of ice cream producer YSCO through its ice cream investments platform, Glacier.
The deal brings together Gelato d'Italia and YSCO to create one of the largest third-party ice cream manufacturers globally with revenues exceeding €600 million.
In 2022, Davidson Kempner acquired Gelato d'Italia – an independent ice cream producer with two production sites in Italy.
It is a key innovation and manufacturing partner for ice cream brand owners and retailers worldwide.
'Strong Retailer Relationships'
Bert Van Nieuwenborgh, CEO of YSCO, said, "As Europe's second-largest private label ice cream producer, our expertise in large batch production and strong retailer relationships perfectly complement Glacier's innovative approach.
"Together, we are well-positioned to lead the way in a rapidly growing and evolving market, delivering exceptional value to our partners and customers."
YSCO works with almost all mainstream European retailers for the co-creation and production of home-brand ice cream products.
The company has production capabilities in Belgium and France and distributes up to 200 million litres of ice cream per year, predominately within the European market.
Glacier
Glacier seeks to leverage its scale to become a key partner to ice cream brand owners worldwide.
Cem Karakaş, chairperson of Glacier and partner at Afendis, added, "Glacier is perfectly positioned to capitalise on strong growth in the fragmented European third-party ice cream sector.
"By building on the success of Gelato d'Italia and leveraging YSCO's scale and expertise in long-run production of large batch products, Glacier is well-placed to be a leading player in Europe. This acquisition will be the launchpad for further expansion across the globe."
