By Michael Susin

Unilever said late Wednesday that it entered into an agreement to acquire the U.S.-based premium frozen Greek yogurt brand Yasso Holdings, without disclosing financial details around the deal.

The Anglo-Dutch multisector retailer said the acquisition is in line with the premiumization--the process of making a product appeal to consumers by emphasizing its superior quality and exclusivity--strategy of its ice-cream division.

Yasso responds to a growing demand in the U.S. market in the premium 'Better For You' segment, by offering a high-quality range of low-calorie indulgent products, it added.

The transaction is expected to be completed in the third quarter of 2023.

"This acquisition is a great step in the evolution of our ice cream portfolio in North America towards high growth spaces. I am confident that with the full support of Unilever behind Yasso, we will take this fast-growing business to even greater heights," President Ice Cream Unilever Matt Close said.

Unilever's ice cream portfolio includes premium brands such as Ben & Jerry's, Magnum and Talenti.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

June 15, 2023 05:37 ET (09:37 GMT)

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