Valsoia — M&A Activity 2022

Sep 2, 2022

VALSOIA S.P.A. HAS SIGNED AN AGREEMENT WITH THE MULTINATIONAL COMPANY GENERAL MILLS FOR THE EXCLUSIVE DISTRIBUTION IN THE ITALIAN TERRITORY OF THE ICE CREAM BRAND HÄAGEN-DAZS

THE AGREEMENT WILL BE EFFECTIVE FROM JANUARY 1st, 2023

Bologna, September 2, 2022

Valsoia S.p.A. (EXM: VLS), a leading company in the Italian market for health food products, listed on Euronext Milan managed by Borsa Italiana, on today's date has finalized an agreement with General Mills International S.a.r.l., a company with registered office in Switzerland and controlled by the American multinational company General Mills Inc., for the exclusive distribution in the Italian territory of the ice cream brand Häagen-Dazs.

General Mills Inc. is specialized in the production and distribution of great food brands world-wide.

Häagen-Dazs brand ice creams are, in accordance with the market research company Nielsen, the number one takehome's ice -cream brand in the world, being present in more than 80 countries.

The world-wide expressed turnover to retailers from the Häagen-Dazs brand is more than a billion dollar.

The entry of Häagen-Dazs in the Valsoia S.p.A. portfolio represents a further step along the path of growth and consolidation of the Valsoia's group that already manages relevant leading brands, entirely owned (Valsoia "Bontà e Salute", Santa Rosa, Diete.tic, Piadina Loriana), together with some selected and prestigious brands in distribution (Vallè, Weetabix, Oreo O's Cereals).

In particular, the brand of traditional ice cream Häagen-Dazs represents for Valsoia S.p.A. an important synergy on the Italian ice cream market alongside the Valsoia Brand, already leader in the plant-based ice cream market, widely present throughout the national mass-market retailers with a market share higher than 70%.

Valsoia and Häagen-Dazs Brands are addressed to different and complementary target consumers: high quality 100% plant based and high quality traditional.

The shared goals between Valsoia S.p.A and General Mills establish a challenging growth plan for Häagen-Dazs in Italy, supported by relevant consumer marketing investments aimed at leading the brand to the levels of excellence just achieved in all the European and non-European countries.

The exclusive distribution agreement in the Italian territory will be effective from January 1st, 2023. Until that date the distribution of the Häagen-Dazs ice cream will be carried on by the current distributor.

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Valsoia S.p.A. (www.valsoiaspa.com) founded in 1990, was a "pioneer" in the development of the Italian market of alternative vegetable products. Today it is a reference company in the health food market in Italy and has expanded its product portfolio to include traditional food brands. The Valsoia brand "Bontà e Salute" represents, for the consumer, innovation and attention to health through good, natural and healthy products. Since July 14, 2006, Valsoia S,p,A, has been listed on the Euronext Milan market organized and managed by Borsa Italiana S.p.A

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