Nestlé: sells US ice cream business, including Häagen-Dazs
(CercleFinance.com) - Nestlé is selling its US ice cream business to Froneri, an ice cream-focused joint venture that Nestlé created with private equity fund PAI Partners, in a deal worth 4 billion dollars.
The move comes as the world's biggest food maker is reshaping its business to focus on healthier snacks and new consumer preferences, such as meatless products.
With brands like Häagen-Dazs, Nestlé USA's ice cream business had a turnover of 1.8 billion dollars in 2018.
The transaction is expected to close in the first quarter of 2020.
In 2016, Nestlé and PAI Partners merged Nestlé's European ice cream business in 20 countries and PAI-owned R&R to create the new ice cream company Froneri.
Nestlé will continue to manage its remaining ice cream businesses in Canada, Latin America and Asia as part of its current structure.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The move comes as the world's biggest food maker is reshaping its business to focus on healthier snacks and new consumer preferences, such as meatless products.
With brands like Häagen-Dazs, Nestlé USA's ice cream business had a turnover of 1.8 billion dollars in 2018.
The transaction is expected to close in the first quarter of 2020.
In 2016, Nestlé and PAI Partners merged Nestlé's European ice cream business in 20 countries and PAI-owned R&R to create the new ice cream company Froneri.
Nestlé will continue to manage its remaining ice cream businesses in Canada, Latin America and Asia as part of its current structure.
Copyright (c) 2019 CercleFinance.com. All rights reserved.