Unilever Buys Talenti Gelato & Sorbetto

(RTTNews) - Anglo-Dutch consumer goods giant Unilever (UN, ULVR.L, UL) said Tuesday it has acquired Talenti Gelato & Sorbetto. Minneapolis-based Talenti, which was founded in 2003, has grown into the best selling packaged gelato in the United States, Unilever said. The financial terms of the deal were not disclosed.

Talenti is expected to have more than $120 million in turnover in 2014.

With its 30 gelato and sorbetto flavors - such as Sea Salt Caramel and Sicilian Pistachio - the Talenti acquisition brings a complementary packaged gelato portfolio to Unilever's ice cream category, alongside the company's existing iconic brands such as Ben & Jerry's, Breyers, Fruttare, Good Humor , Klondike, Magnum and Popsicle.

"Welcoming Talenti to the Unilever family marks another step in our North America portfolio transformation," said Kees Kruythoff, President of Unilever North America. "The acquisition widens Unilever's position in the fast-growing gelato market with its artisanal offerings and its clear, distinct and recyclable packaging. We are looking forward to growing and developing this fantastic brand further."