Unilever is buying frozen yogurts brand Yasso Holdings

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Updated on Sep 27, 2024

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Unilever says it's buying Yasso but did not reveal financial details of the agreement.
The consumer goods company expects the transaction to close in Q3 of 2023.
Unilever stock is currently down about 10% versus its year-to-date high in May.

Unilever plc (LON: ULVR) is in focus today after the consumer goods giant said it was buying Yasso Holdings – a U.S. based brand of frozen Greek yogurts.

Details of the announced agreement

The multinational refrained from divulging the financial details of the agreement on Thursday.

It did note, though, that the investment was in line with premiumisation strategy of its ice-cream business. In the press release, Matt Close – the company’s President for Ice-Cream division said:

I am delighted to welcome Yasso to the Unilever family. It has built a strong customer appeal in the fast-growing premium better for you segment.

In April, the London-headquartered firm said its underlying sales increased 10.5% to $16.4 billion in the first quarter as raised prices helped offset increased costs.

Deal will likely close in Q3 of 2023

Unilever expects the announced transaction to complete in the third quarter of the current year provided that it satisfies closing conditions including regulatory approvals.

The British consumer goods company already has notable ice-cream brands on its portfolio, including Ben & Jerry’s, Talenti, and Magnum. Matt Close also said today:

This acquisition is a great step in the evolution of our ice cream portfolio in North America towards high growth spaces. I’m confident we’ll take this fast-growing business to even great heights.

The news arrives only weeks before Hein Schumacher replaces Alan Jope as the Chief Executive of Unilever plc. The dividend stock currently pays a yield of 3.72%.