In ice-cream news, Froneri are set to become an even bigger global iced confectionary player, with the proposed purchase of Nestle’s US ice cream business in a deal worth USD 4 billion.
The Nestle business last year reported a turnover of US 1.8 billion and the deal will net Froneri Nestle’s high-profile brands Haagen-Dazs, Drumstick and Outshine.
The acquisition is subject to regulatory approval and is expected to take place early next year. Nestle will retain its Canadian, Latin American and Asian ice cream businesses.
The announcement comes just three years after Forneri was formed by Nestle and PAI Partners, following the merger of Nestle’s European ice cream business with PAI’s R&R.
It is now one of the world’s largest ice cream companies with an estimated 2018 turnover of CHF 2.9 billion.
The US was one of the few markets Froneri, who operates in Europe, Latin America, Africa and the Asia-Pacific, did not have holdings and follows recent acquisitions of NZ’s TipTop and Nestle’s Israeli ice cream business.