Nestlé to sell off remainder of ice cream business
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Nestlé is offloading the remainder of its ice cream assets as the world’s largest food company takes a larger review of its businesses in an aggressive push to turn around sales.
The CPG’s ice cream business outside the U.S. will be sold to Froneri “in a phased way,” Nestlé CEO Philipp Navratil said during an earnings call Thursday. Froneri, a joint venture created by the Swiss company and PAI Partners, acquired Nestlé’s U.S. ice cream business for $4 billion in 2019.
Navratil said its remaining ice cream holdings are “strong but small,” adding that the segment is “a distraction for us” as the company chases larger growth opportunities. -
Nestlé is offloading the remainder of its ice cream assets as the world’s largest food company takes a larger review of its businesses in an aggressive push to turn around sales.
The CPG’s ice cream business outside the U.S. will be sold to Froneri “in a phased way,” Nestlé CEO Philipp Navratil said during an earnings call Thursday. Froneri, a joint venture created by the Swiss company and PAI Partners, acquired Nestlé’s U.S. ice cream business for $4 billion in 2019.
Navratil said its remaining ice cream holdings are “strong but small,” adding that the segment is “a distraction for us” as the company chases larger growth opportunities.They really couldn’t figure out how to kill children with ice cream?
