Chilean food company Industria de Alimentos Trendy has reached an agreement with Bresler Alimentos to acquire the Panda ice cream brand, which currently has a 10% share of the domestic ice cream market in terms of volume.

Bresler Alimentos, the Chilean food division of Anglo-Dutch consumer products giant Unilever, said the sale is part of Unilever’s global strategy to focus on the 400 brands that have the highest growth potential. Bresler owns the Magnum, Cornetto, Viennetta, Carte D’Or and Bresler brands in Chile, reported Estrategia.

If the acquisition goes ahead, Trendy will become Chile’s second largest ice cream producer, with a retailer network of more than 20,000 outlets.