Nestlé to sell remainder of ice cream business

Nestlé has entered into advanced negotiations to sell the remainder of its ice cream business to Froneri. 

Froneri was created in 2016 as a joint venture between private equity company PAI Partners and Nestlé. The ice cream business was sold to Froneri in 2016 for US$4 billion. 

The sale will include the Canadian market with the London, Ont. plant. 

“During this period, operations will continue as usual and there will be no immediate changes for our employees, customers or partners. We are committed to transparent communication and a responsible transition and will share updates as they become available,” Catherine O'Brien, senior vice-president, corporate affairs, Nestlé Canada, told CSNC sister publication, Canadian Grocer. 

In a statement, Nestlé says the transition to the new owner will take 12 to 18 months.

Moving forward, Nestle will focus on the four core businesses of coffee, food and snacks, nutrition and petcare.