FDBusiness.com

Froneri has agreed to acquire the Noga Ice Creams, subject to regulatory approval. Noga is part of the Nestlé-owned business Osem Group and means Froneri will be entering the Israeli market for the first time. This milestone deal will now bring all of the Nestlé Europe, Middle East & North Africa ice cream businesses into the Froneri group.

Created in 2016 as a joint-venture between PAI Partners and Nestlé, Froneri is the second largest manufacturer of ice cream in Europe, the third largest worldwide and the number one private label producer worldwide. Froneri has revenues of €2.6 billion and employs over 10,000 people worldwide

Ibrahim Najafi, chief executive of Froneri, explains: “We’re very excited to be building on the strengths of our existing joint venture with Nestlé. By entering Israel we’re continuing to realise our vision of becoming the world’s best ice cream company.”

Froneri has confirmed that the existing management team will continue to lead the business.

He continues: “Our consumers are at the heart of our business and we intend to invest in the local brands, products and flavours that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri.”

Marco Settembri, chief executive of Zone Europe, Middle East and North Africa, Nestlé, says: “With its continued growth and global prominence in the ice cream market, Froneri’s success speaks for itself. This milestone deal marks the final stage of the transition of our EMENA ice cream businesses into Froneri, further strengthening its presence in the region.”

Leading Noga brands including La Cremeria, Extreme, Cookilida, Crunch and Gumigum will continue to be available.