Consumer goods group Unilever PLC said Aug. 9 it will acquire Australian ice cream maker Weis for an undisclosed amount.
The London-based Unilever, which also owns Magnum and Ben & Jerry's ice cream brands, said in a statement it has entered into a definitive agreement to buy the family-run business, known for its fruit and cream bars, sorbet, and frozen yogurt products. Unilever did not disclose the terms of the deal nor the timing for the transaction to close.
"This acquisition will bring Weis the benefits of scale, strong market access and ice cream category expertise to help take the business to the next level in its growth," CEO of Unilever Australia & New Zealand Clive Stiff said in a statement.
Weis, which manufactures its products in its factory in Toowoomba, Queensland, was founded in 1957 by Les and Val Weis, and is now run by a second generation of the family. In addition to selling in Australia, the company exports its products to North America, Japan, China and other Asian markets. Its ice creams will continue to be made in the Toowomba factory following the deal, according to the news release.
"Unilever's scale will enable greater market access and growth that will provide opportunities for our extended Weis family of staff, suppliers, customers and of course our wonderful consumers," Weis managing director Julie Weis said in a statement.