Major Romanian ice cream maker Alpin sold by Food Union to Froneri under regional deal

Romanian ice cream maker Alpin 57 Lux, an entrepreneurial company taken over in 2016 by Lithuania's Food Union, will be sold under a regional deal to Froneri – a partnership between the Swiss agri-food giant Nestlé and the investment fund PAI Partners, Profit.ro reported.

The investment fund PAG Private Equity, focused on the Asia-Pacific area, had taken over the majority stake in the Food Union group, from Lithuania, which also owns the Romanian ice cream producer Alpin.

Alpin 57 Lux is one of the largest ice cream companies in Romania. Founded by Ioan Istrate as a family business in 1994, the company was taken over by the Food Union group in 2016.

Alpin produces over 100 ice cream varieties under different brands, including Transalpina, Fulg de nea, Polar Autentic, Sandwich, and a series of nine HoReCa products. In addition, due to the fact that ice cream remains a seasonal product for Romanian consumers, Alpin57Lux also has a range of frozen pastry and bakery products.

The company operates in the factory in Sebeș, Alba County. Last year, it had a turnover of RON 153.4 million and a net profit of RON 1.8 million, with 481 employees.

Food Union is the leading ice cream producer in the Baltic States and Denmark, and holds a solid position in Norway, Romania, Russia, and Belarus. The Food Union Group is backed by Hong Kong-based investment company Meridian Capital Limited and PAG, one of Asia's largest private equity firms.

(Photo source: Aleksandr Kurganov/Dreamstime.com)