Davidson Kempner, a global investment management firm, supported by operating partner Afendis, has acquired ice cream producer YSCO through its ice cream investments platform, Glacier.
The acquisition is transformational for Glacier’s ambitions to grow in the global ice cream industry, with YSCO joining Gelato d’Italia which was acquired in 2022. Gelato d’Italia is an independent ice cream producer with two sites in Italy and a key innovation and manufacturing partner for ice cream brand owners and retailers worldwide.
Bringing Gelato d’Italia together with YSCO will create one of the largest third-party ice cream manufacturers globally with revenues in excess of €600 million.
YSCO works closely with almost all the mainstream European retailers for the co-creation and production of their home-brand ice cream products. YSCO has production capabilities in Belgium and France and distributes up to 200 million liters of ice cream per year, predominately within the European market.
Glacier aims to leverage its scale to become a key partner to ice cream brand owners worldwide, aided by its commitment to delivering the fastest ideation-to-launch for new products.
Working with these international brand owners, Glacier is targeting international expansion and becoming the third-party ice cream manufacturer of choice.
Bert Van Nieuwenborgh, CEO of YSCO, said: “This acquisition represents an exciting opportunity for YSCO to accelerate our growth as part of Glacier’s ambitious vision.
“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.”
Cem Karakaş, Chairperson of Glacier and Partner at Afendis, said: “Glacier is perfectly positioned to capitalize 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.”