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    ULVR   GB00B10RZP78

UNILEVER PLC

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Barilla, Unilever's Algida team up to sell ice cream, snacks

09/28/2021 | 07:31am EDT
FILE PHOTO: Ferrero Rocher chocolates are seen, in this picture illustration

MILAN (Reuters) - Italian food company Barilla and Unilever's brand Algida have signed a strategic partnership to sell ice cream and snacks in Italy, the two groups said on Tuesday.

Barilla, whose Gocciole biscuits are the best sellers in Italy, said the partnership would increase demand for its cookie and snack brands especially in the summer season.

It will also help the group be more competitive in selling both sweet and salted snacks in the out-of-home channels where it competes with large foreign groups and chocolate confectioner Ferrero.

"We are convinced that the ice cream market offers interesting prospects and we know that we have brands and products that are of great interest to the Italian consumer," Barilla's Head of Italy Region Francesco Del Porto said.

"Our ambition is also to be increasingly present in the out-of-home sector, thanks to the Unilever Group, which has very long experience and an extensive distribution network."

Ice creams developed together with Cornetto-seller Algida will build on the successful launch of Barilla's cookies filled with chocolate spread and the sale of cereal bars, which have built the Parma-based group's presence in the snack segment.

The partnership will be operational from January 2022 and will initially cover Italy, with the aim of expanding to other European countries, the two groups said.

For Unilever the agreement is an opportunity to offer new products in a sector that is increasingly competitive.

In 2017 Unilever clinched a similar alliance with Barilla's rival Ferrero, helping the confectioner enter the frozen sweet sector both in Italy and abroad.

(Reporting by Francesca Landini; editing by Barbara Lewis)


© Reuters 2021
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Financials
Sales 2021 51 986 M 60 548 M 60 548 M
Net income 2021 5 794 M 6 748 M 6 748 M
Net Debt 2021 22 703 M 26 442 M 26 442 M
P/E ratio 2021 20,5x
Yield 2021 3,69%
Capitalization 118 B 138 B 138 B
EV / Sales 2021 2,71x
EV / Sales 2022 2,59x
Nbr of Employees 148 949
Free-Float 97,4%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 3 893,00 GBX
Average target price 4 405,01 GBX
Spread / Average Target 13,2%
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Managers and Directors
Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating Officer
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