Denmark-based food group Nowaco has acquired Slovak ice cream firm Frost for an undisclosed sum.
Manufacturing at Frost’s plant in the Slovak city of Presov will come to a halt and be moved to a Nowaco facility in Opava, a city in the north of the Czech Republic.
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“Production at the Slovak factory was much too high and we are as a result faced with stocks not solely from 2011 but even from the year before,” Petr Sekula, Nowaco’s director in Slovakia, said.
Sekula refused to be drawn on how many employees in Presov will lose their jobs but pointed out that Nowaco will look to keep as many as possible.
However, he insisted that Nowaco plans to spend “several million euros” on Frost’s development.
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