Froneri, the UK-headquartered ice cream joint venture owned by Nestlé and R&R, has agreed to acquire Noga Ice Creams from Nestlé.
Noga is currently part of the Nestlé-owned business Osem Group, and the deal sees Froneri enter the Israeli market for the first time.
The acquisition will bring all the Nestlé Europe, Middle East and North Africa ice cream businesses into the Froneri group.
“We’re very excited to be building on the strengths of our existing joint venture with Nestlé,” said Ibrahim Najafi, CEO of Froneri. “By entering Israel we’re continuing to realise our vision of becoming the world’s best ice cream company.”
He added: “Our consumers are at the heart of our business and we intend to invest in the local brands, products and flavours that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri.”
Froneri said the existing management team will continue to lead Noga, and its brands such as La Cremeria, Extreme, Cookilida, Crunch and Gumigum will continue to be available.
Marco Settembri, CEO zone Europe, Middle East and North Africa, Nestlé, said: “With its continued growth and global prominence in the ice cream market, Froneri’s success speaks for itself. This milestone deal marks the final stage of the transition of our EMENA ice cream businesses into Froneri, further strengthening its presence in the region.”
The deal comes two months after Froneri secured an agreement to acquire Fonterra’s New Zealand ice cream business Tip Top for NZD 380 million ($250.2 million).
Earlier this year, Froneri launched Nuii, a new ice cream sticks brand, in a move to target the adult evening snack occasion.
Source: FoodBev
This month, the second S3FOOD voucher call selected 14 innovative SME-driven projects all across Europe. These projects will receive funding to develop and adopt innovative digital solutions.
The Global Taste Trends report maps out the key taste linked to trends across the US and Canada, Mexico, Latin America, Europe and the Asia Pacific Middle East and Africa highlighting how they vary and travel across these regions.
The acquisition significantly broadens Cargill’s offerings in the decorations space, enabling the company’s cocoa and chocolate business to better serve gourmet customers in Europe and worldwide.
