Nestle: Froneri JV Takes Control of US Ice-Cream Business in $4 Billion Deal
December 11 2019 - 1:21PM
Dow Jones News
By Carlo Martuscelli
Nestle S.A. (NESN.EB) said Wednesday that it is selling its U.S.
ice-cream business to Froneri--a joint venture between the Swiss
food-and-drink major and PAI Partners--in a $4 billion deal.
Mark Schneider, Nestle's chief executive, said the move aims at
extending Froneri's successful model to the U.S.
"With this transaction, we are taking a decisive step towards
our goal of achieving global leadership in ice cream," he said.
The transaction is expected to close in the first quarter of
next year. The Zurich-listed company said it will retain its
ice-cream businesses in Canada, Latin America and Asia.
Froneri was created in 2016 when Nestle joined its European
ice-cream businesses with R&R, owned by PAI partners.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
December 11, 2019 13:06 ET (18:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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