Nestle SA has agreed to sell its U.S. ice cream business to Froneri in a deal va...
) has agreed to sell its U.S. ice cream business to Froneri in a deal valued at $4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016.
With operations in regions including Latin America and Asia, it is one of the largest ice cream companies in the world with a turnover of around 2.9 billion Swiss francs as of last year. Nestle owns the rights to Häagen-Dazs in the United States, while Yoplait maker General Mills sells the premium brand in non-U.S. markets.
“ underlines the seismic change going on at Nestle in terms of portfolio transformation to focus on where it thinks it can add value, while rolling those businesses where it thinks others can do better into ventures that do so,” Kepler Cheuvreux analyst Jon Cox said.
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