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Froneri, the ice cream joint venture of Nestle and R&R ice cream, has signed an agreement to acquire Food Union’s European ice cream business, covering all its markets in Denmark, Norway, Estonia, Latvia (excluding dairy), Lithuania and Romania.
Food Union is a global food producer and distributor, managing six factories, over 25 brands and more than 1,000+ products, primarily in ice cream, dairy and frozen foods, across ,ore than 20 countries.
Commenting on the move, Froneri CEO Phil Griffin said: “Food Union has built a portfolio of locally loved brands which we plan to invest in to further develop the significant potential of the business. We look forward to welcoming the Food Union team to Froneri to support our ambition to be the world’s best ice cream company”.
Food Union executive chairman Soren Lauridsen added: “Froneri is the global benchmark in ice cream, and we’re delighted that our loved brands have found a perfect home with a truly world-class leader. Under Froneri’s stewardship, these brands will gain broader reach and the strengths of a global portfolio and capabilities, while preserving the local character and quality consumers love”.
The transaction is expected to close within the next few months, subject to approval from regulatory authorities. Financial details of the deal have not been disclosed.
Source: Froneri / Food Union
