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
Fasting during the COVID-19 pandemic brings new considerations, but a recent research review from the University of Doha, Qatar, suggests fasting during Ramadan may have a positive impact on immunity strength.
Ahead of the Rethinking Materials Summit (19-20 May), PackagingInsights sits down with Hugo Menilo, Unilever’s global foods packaging director to discuss their explorations in bio-based packaging, advanced recycling, refillable e-commerce solutions and more.
The announcement marks the first in a series of refreshed Brew a Better World ambitions, which form part of the company’s new EverGreen growth strategy.
