Romanian ice cream producer Betty Ice, a business founded and owned by local entrepreneur Vasile Armenean, is currently on sale, with big private equity and strategic investors lined up for a possible acquisition.

The Betty Ice owner is waiting for the preliminary offers from interested investors this month, according to local mergers and acquisitions journal Mirsanu.ro.

Private equity funds Mid Europa Partners, Abris Capital Partners, Enterprise Investors are rumored to be interested in this deal. Latvian group Food Union, which last year took over another local ice cream producer, Alpin 57 Lux, may also want to consolidate its presence on the local market.

Betty Ice was founded in 1994 and is currently the biggest independent ice cream producer in Romania. The company had a turnover of some EUR 26 million and a net profit of EUR 5 million in 2015, with over 600 employees.

The company’s value may reach some EUR 50-60 million, according to sources on the M&A market.

editor@romania-insider.com

(photo source: Betty Ice on Facebook)