Davidson Kempner and Afendis Enhancing European Ice Cream Sector

Davidson Kempner and Afendis Complete YSCO Acquisition

Davidson Kempner Capital Management LP, a prominent global investment firm, alongside its operating partner Afendis Capital Management, has successfully acquired YSCO, an ice cream producer, via their ice cream-focused platform, Glacier. This strategic acquisition is poised to enhance Glacier's ambitions in the global ice cream market, although the specific financial details of the transaction have not been revealed.

The Impact on Glacier's Growth Strategy

This acquisition represents a significant step for Glacier, who aims to expand its footprint in the booming global ice cream sector. With YSCO now part of its portfolio, Glacier is combining resources with Gelato d'Italia, a notable player in the ice cream industry that was also acquired in 2022. This strategic union will enable Glacier to harness a vast operational capacity, resulting in one of the world's leading third-party ice cream producers generating revenues exceeding €600 million.

Innovation and Collaboration in Ice Cream Production

Both YSCO and Gelato d'Italia are deeply committed to innovation, operational excellence, and enhancing customer satisfaction. The merger is expected to create synergies that will strengthen their combined operations. YSCO collaborates closely with major European retailers, producing private-label ice cream products tailored to market demands. With state-of-the-art production capabilities spread across multiple locations, YSCO distributes around 200 million liters of ice cream annually, primarily in Europe.

Future Growth and Aspirations

Glacier's vision includes not only scaling up its operations but also forging strong partnerships with ice cream brand owners worldwide. The company is determined to ensure that it remains at the forefront of the industry by facilitating the fastest product launches. By effectively collaborating with brand owners, Glacier is targeting international expansion, with aims to become the go-to manufacturer in the ice cream sector.

Leadership Comments on the Acquisition

Bert Van Nieuwenborgh, CEO of YSCO, expressed enthusiasm about the acquisition, stating, "This represents a thrilling opportunity for YSCO to elevate our growth under Glacier's ambitious vision. As Europe's second-largest private label ice cream producer, we excel in large batch production and have nurtured strong relationships with retailers. Our combined efforts will position us favorably in this dynamic market, enabling us to deliver exceptional value for our partners and customers."

Cem Karaka?, the Chairperson of Glacier, highlighted the potential for growth in Europe’s fragmented third-party ice cream market. He remarked, "By leveraging YSCO's production capabilities and our existing infrastructure from Gelato d'Italia, we aim to solidify Glacier's leadership in Europe and use this acquisition as a springboard for global expansion."

About Davidson Kempner Capital Management

Davidson Kempner Capital Management LP stands as a leading investment firm with over four decades of expertise, focusing on a fundamental, multi-strategy investment approach. Currently, the firm manages approximately $37 billion in assets and operates with a workforce of over 500 professionals across seven major global offices.

About Afendis Capital Management

Afendis Capital Management is known for its specialization in investing and managing ventures within the food and pharmaceutical sectors.

About Glacier

Glacier represents a dynamic ice cream investments platform, fueled by the backing of Davidson Kempner and Afendis Capital Management. Through the integration of major producers like YSCO and Gelato d'Italia, Glacier aims to redefine the third-party ice cream manufacturing landscape, establishing itself with over €600 million in revenues. The firm's commitment lies in driving innovation and efficiency, partnering with brand owners and retailers to set new benchmarks for growth and success.

Frequently Asked Questions

What is the significance of Davidson Kempner's acquisition of YSCO?

It marks a transformative step for Glacier, enhancing its growth potential in the global ice cream market.

How does merging YSCO with Gelato d'Italia benefit Glacier?

The merger creates a powerful manufacturing entity, enabling Glacier to leverage broader resources and operational efficiencies.

What are YSCO's production capabilities?

YSCO has extensive production facilities and distributes around 200 million liters of ice cream annually, mainly within Europe.

What is Glacier's vision for the future?

Glacier seeks to expand its international footprint and become the preferred third-party ice cream manufacturer globally.

Who leads the companies involved in the acquisition?

Bert Van Nieuwenborgh serves as CEO of YSCO, while Cem Karaka? is the Chairperson of Glacier.

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