Sector News

Nestle and R&R complete Froneri ice cream JV

October 4, 2016
Consumer Packaged Goods

Food giant Nestle and Britain’s R&R Ice Cream have completed a transaction to create their new Froneri ice cream and frozen food joint venture, Nestle said on Monday.

“With sales of around 2.6 billion euros (2.27 billion pounds), Froneri will operate in 22 countries across the world, employing around 15,000 people,” Froneri said on its website.

The 50/50 joint venture announced in April will combine Nestle and R&R ice cream businesses across Europe, the Middle East, Argentina, Australia, Brazil, the Philippines and South Africa.

It will also include Nestle’s European frozen food business excluding pizza and retail frozen food in Italy, as well as its chilled dairy business in the Philippines.

The terms of the transaction were not disclosed.

By Brenna Hughes Neghaiwi

Source: Reuters

comments closed

Related News

February 25, 2024

The Body Shop faces store closures, layoffs and ingredient surplus after Aurelius acquisition

Consumer Packaged Goods

Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.

February 25, 2024

Kroger and Albertsons face lawsuits to block $24.6bn merger – Bloomberg

Consumer Packaged Goods

Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.

February 25, 2024

Diageo reportedly in talks to offload trio of brands, including Pimm’s

Consumer Packaged Goods

The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.

How can we help you?

We're easy to reach