Swiss food multinational Nestle and UK-based ice cream maker R&R have formally announced that a joint venture agreement between the two companies has now been agreed. The new company, called Froneri, is expected to report sales of 2.7 billion CHF ($2.81 billion) and will employ around 15,000 people. Speculation about a deal between Nestle and R&R first emerged last October, when it was reported that the two firms were in …
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R&R Ice Cream
Swiss food giant Nestle is said to be in talks to form a joint venture to combine some of its ice cream businesses with R&R, Europe’s largest contract ice cream maker, Reuters reports. According to Reuters, the two companies are in discussions to form a 50/50 joint venture in a deal valued at £2.2 billion ($3.34 billion). As part of the deal, Nestle would reportedly contribute its ice cream businesses …
The British ice cream company R&R has announced the acquisition of the ice cream business of Nestle South Africa, in a move designed to increase its sales across the African continent. Nestle South Africa’s ice cream business includes brands such as Dairymaid, Country Fresh, Eskimo Pie and King Cone as well as Rolo and KitKat. The business has a manufacturing facility with nine production lines at Clayville, Johannesburg and approximately 200 …
Following recent speculation it has been confirmed that ice cream brand Peters Food Group Limited (Peters) is to be sold by Pacific Equity Partners (PEP). Peters, which is one of Australia’s oldest consumer businesses, has been sold to UK-based R&R Ice Cream plc (R&R) backed by funds advised by French private equity firm PAI Partners (PAI). According to Australian Food News (AFN), terms of the deal have not been disclosed, …
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