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
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.