Nestlé and R&R have set up joint venture company called Froneri with sales of around CHF2.7 billion (US$2.81 billion) in more than 20 countries employing about 15,000 people.
Froneri will be headquartered in the UK and will operate primarily in Europe, the Middle East (excluding Israel), Argentina, Australia, Brazil, the Philippines and South Africa.
The new company will combine Nestlé and R&R’s ice cream activities in the relevant countries and will include Nestlé’s European frozen food business (excluding pizza and retail frozen food in Italy), as well as its chilled dairy business in the Philippines.
The transaction is subject to employee consultations and the approval of regulatory authorities.
Financial details are not being disclosed.
