Nestlé to Sell U.S. Ice Cream Business to Joint Venture
December 11 2019 - 01:37PM
Dow Jones News
By Allison Prang
Nestlé said it is selling its U.S. ice cream business to a joint
venture the company helped form three years ago.
Nestlé and European private-equity firm PAI Partners founded a
joint ice cream venture in 2016 called Froneri, a combination of
Nestlé's ice cream operations in Europe and ice cream manufacturer
R&R,
Nestlé, based in Switzerland, said it values the sale of its
U.S. ice cream business at $4 billion.
Nestlé's ice cream brands include Nestlé Ice Cream, Häagen-Dazs
and Dreyer's.
Nestlé CEO Mark Schneider said in prepared remarks that he
thinks "Froneri's successful business model can be extended to the
U.S. market."
Froneri has operations in Europe, Latin America, Africa and
Asia-Pacific.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
December 11, 2019 13:22 ET (18:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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