Nestlé said it is selling its U.S. ice cream business to a joint venture the company helped form three years ago.
Nestlé and European private-equity firm PAI Partners founded a joint ice cream venture in 2016 called Froneri, a combination of Nestlé’s ice cream operations in Europe and ice cream manufacturer R&R,
Nestlé, based in Switzerland, said it values the sale of its U.S. ice cream business at $4 billion.
Nestlé’s ice cream brands include Nestlé Ice Cream, Häagen-Dazs and Dreyer’s.
Nestlé CEO Mark Schneider said in prepared remarks that he thinks “Froneri’s successful business model can be extended to the U.S. market.”
Froneri has operations in Europe, Latin America, Africa and Asia-Pacific.
Write to Allison Prang at allison.prang@wsj.com
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December 12, 2019 at 01:07AM
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Nestlé to Sell U.S. Ice Cream Business to Joint Venture - Wall Street Journal
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