Froneri to acquire Nestlé’s ice cream business
This deal will now bring all of the Nestlé Europe, Middle East and North Africa ice cream businesses into the Froneri group.
Froneri, England, announced plans to acquire the Noga Ice Creams Limited Partnership, Israel, which is part of the Nestlé-owned business Osem Group, Switzerland. This deal will now bring all of 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. By entering Israel, we’re continuing to realize our vision of becoming the world’s best ice cream company,” says Ibrahim Najafi, chief executive officer of Froneri.
The existing management team will continue to lead the business.
“Our consumers are at the heart of our business, and we intend to invest in the local brands, products and flavors that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri,” adds Najafi.
“With its continued growth and global prominence in the ice cream market, Froneri’s success speaks for itself,” says Marco Settembri, chief executive officer, zone Europe, Middle East and North Africa, Nestlé. “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.”