Unilever, the Anglo-Dutch consumer goods giant, has agreed to acquire frozen yogurt brand Yasso for $1.2 billion. The deal, which is expected to close in the second half of 2023, will give Unilever a major foothold in the growing frozen yogurt market.
Yasso was founded in 2001 by Ryan Cohen and Rick Wessels. The company's frozen yogurt bars are made with Greek yogurt and are available in a variety of flavors, including strawberry, blueberry, and chocolate. Yasso is currently sold in more than 20,000 stores in the United States and Canada.
Unilever is the world's largest consumer goods company, with brands that include Dove, Axe, and Hellman's mayonnaise. The company has been looking to expand its portfolio of frozen food brands, and Yasso fits well with its strategy. Frozen yogurt is a growing category, with sales expected to reach $2.5 billion in the United States by 2025.
The acquisition of Yasso is the latest in a series of deals by Unilever to acquire high-growth brands. In recent years, the company has also acquired Dollar Shave Club, The Vegetarian Butcher, and Sir Kensington's.
Unilever CEO Alan Jope said that the acquisition of Yasso would "accelerate our growth in the frozen food category and give us a strong foothold in the fast-growing frozen yogurt market." He added that Yasso is "a great fit for our portfolio of brands" and that the company is "excited to welcome the Yasso team to Unilever."
The acquisition of Yasso is likely to face scrutiny from antitrust regulators. However, Unilever is confident that the deal will be approved. The company said that it has already received "positive feedback" from regulators.
The acquisition of Yasso is a significant development in the frozen food industry. It is a sign that Unilever is serious about growing its frozen food business and that it is willing to make big bets on high-growth brands. The deal is also a sign that the frozen yogurt market is maturing and that there is still room for growth.