Swedish ice cream maker Alvestaglass has signed an agreement with US food giant General Mills for the distribution of the latter’s Häagen-Dazs ice cream brand.
From 14 October, the company will offer the entire Häagen-Daz range in Sweden, according to a statement from Alvestaglass, which recently expanded its portfolio into protein bars, chewing gum and drinks.
Retail sales for the Häagen-Dazs brand in Sweden stand around SEK95m (US$9.6m) a year but Alvestaglass aims to increase that and expand market share in the country. “It’s a great opportunity to grow,” the statement read.
It continued: “We can today proudly announce that Alvestaglass has done its biggest business since its inception in 2008. We see great potential to increase Häagen-Daz’s market share in Sweden. With Häagen-Dazs in the product portfolio, we will be able to double our sales of ice cream in 2020.
“Alvestaglass has already conducted limited market tests and purchases of the Häagen-Daz’s range, which turned out very well.”
The company recently announced it was raising additional funds through the sale of shares to fund the expansion of its portfolio into new categories, while it is also looking at the option of a share listing.
Chief executive Richard Hertvig and Dan Isaksson hold a majority stake in the business of around 71%, while Alvestaglass Partners Sweden owns the remainder. The company’s products are sold in 2,500 supermarkets across Sweden as well as via its own online channel.