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Froneri, the global ice cream manufacturer, has announced an agreement to form a strategic partnership with Grupo Herdez, the Mexican food company, regarding its ice cream business in Mexico.
The agreement will see the ice cream business that Grupo Herdez has operated under an exclusive license from Nestle since 2015 integrated into the strategic partnership. The partnership will be supported by a capital contribution from Froneri, which the company claims will strengthen the financial structure of the business and secure its growth plan. Grupo Herdez will transfer full operational control to Froneri to implement its specialised business model.
The business features a portfolio of brands, including Helados Nestle, Mega, PelaPop and Carlos V. Brand licensing in Mexico will align with Froneri’s global framework with Nestle.
Froneri CEO Ibrahim Najafi commented: “We are thrilled to be partnering with Grupo Herdez to unlock the significant potential of their ice cream business in Mexico. The business operates under a portfolio of much-loved brands which we plan to invest in to further develop the business”.
The partnership follows Grupo Herdez’s 2015 deal to acquire the ice-cream business of Nestle Mexico.
The transaction is subject to authorisation by the Federal Economic Competition Commission (COFECE) and other customary closing conditions.
Source: Froneri
