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Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.950-0.5%3:59 PM EDT

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From: E_K_S12/12/2019 8:35:25 AM
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Nestle unloads U.S. ice cream business
Dec. 11, 2019 1:52 PM ET|About: Nestlé S.A. (NSRGY)|By: Clark Schultz, SA News Editor

Nestle ( OTCPK:NSRGY) says it plans to sell its U.S. ice cream business to its joint venture with PAI Partners.

The sale of the business to Froneri is being completed at a transaction value of $4B.

"The creation of Froneri has been a phenomenal success. We are now making this business our global strategic partner in ice cream and are convinced that Froneri’s successful business model can be extended to the U.S. market. With this transaction, we are taking a decisive step towards our goal of achieving global leadership in ice cream," says Nestle CEO Mark Scheider.
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