Thu, 01 Nov 2012 | BUSINESS SALE
An ice cream business headquartered in North Yorkshire could be put up for sale in the future as it launches a review of its options.
R&R Ice Cream is the third largest ice cream manufacturer in Europe but in accordance with the terms of the company's €350 million indenture issued in 2010, it has been forced to reveal a review of its “strategic options”.
There is no assurance that any business sale will take place, but there is a possibility that the company and its subsidiaries will be put on the market if needed.
If a sale was to happen it would mark a reversal of fortunes for R&R, which has been on an acquisitions spree recently. Among the companies snapped up by R&R are Eskigel, a private-label ice cream producer in Italy, Pilpa, Durigon Gelato and Viva Gelato.
These European acquisitions allowed the business to strengthen its position on the continent and opened up the core markets of France and Germany.
Despite a less than certain future, R&R remains “delighted” with its performance of late. The second quarter of 2012 saw the firm report an adjusted EBITDA of €49.9 million, an increase of €8.9 million on the same period in 2011.
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