Two children eat ice cream cones at Quincy Marketplace on a summer's day in Boston
Two children eat ice cream cones at Quincy Marketplace on a summer's day in Boston, Massachusetts July 17, 2014. Reuters/Brian Snyder

Anglo-Dutch consumer products giant Unilever is set to buy high-end Italian ice cream maker Grom. In a statement the consumer MNC said the “acquisition would strengthen the ice cream portfolio with the induction of a premium brand”.

Unilever already has Ben & Jerry's in its ice-cream portfolio and is expecting Grom to become its driver to expand market shares in the premium ice-cream market. Grom will continue to remain independent and will be managed by its founders, Unilever said in a statement. Unilever has heavy competition from Nestle.

The Italian ice cream company is spread out in 67 outlets in Italy with overseas presence in Paris and New York. Founded in 2003, Grom is based in Turin, which is in the Piedmont region and home to well-known food companies Ferrero and Eataly. The Reuters reported that Unilever did not disclose the financial terms of the agreement.

Amazing growth

The Grom ice cream brand is noted for its rapid growth on the back of its immense brand equity. In Italy’s ice cream market, there is high demand for the product regardless of the weather. But the sector is fiercely competitive and only the best can survive. So, a gelateria has to ensure that it maintains the best quality so that people can come back. Grom has already proved that it is a winner.

“Grom consumers will continue to enjoy the same taste and flavours they have always loved, while Unilever's scale will give access to new markets, helping Grom to fuel growth,” the company said in a statement. Grom has a turnover of €30 million (AU$47.5 million) and employs 650 people.

Unique ice cream

Set up by Federico Grom and Guido Martinetti, who are in their late 30s, Grom made its debut as an artisanal ice-cream company. Use of premium ingredients, such as organic fruit, cage-free eggs and spring water, non-use of added flavors, colors, preservatives or chemical additives made Grom’s products stand out.

Among the popular Gelato flavors are pistachio, salted caramel, mint chocolate chip and Guatemalan espresso. It also offers seasonal fruit sorbets, with varieties like Sicilian lemon and persimmon, reports Food Business News .

While setting up Grom ice-cream chain in 2003, the friends were inspired by a newspaper article of 2002, which said nobody in Italy makes “gelato like it used to be made.” That made the founders adopt “Gelato like it used to be” as the company’s main slogan.

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