Nestlé will continue to manage its remaining ice cream businesses in Canada, Latin America and Asia as part of its current market structure.
Nestlé S.A., Switzerland, reached an agreement to sell its U.S. ice cream business to Froneri, an ice cream-focused joint venture Nestlé created in 2016 with PAI Partners, for $4 billion.
In 2016, Nestlé and PAI Partners merged Nestlé’s European ice cream business in 20 countries and PAI-owned R&R to create Froneri, which will now have a strong presence in the United States in addition to its operations in Europe, Latin America, Africa and Asia-Pacific. Plus, Froneri’s acquisition of TipTop in New Zealand and Nestlé’s ice cream business in Israel continue to increase Froneri’s growing global footprint.