Nestlé and R&R Create Froneri Joint Venture
Nestlé and R&R have completed the transaction to create Froneri, a new joint venture in ice cream, frozen food and chilled dairy. Froneri will combine Nestlé and R&R’s ice cream activities in Europe, the Middle East (excluding Israel), Argentina, Australia, Brazil, the Philippines and South Africa.
Froneri will also include Nestlé’s European frozen food business (excluding pizza and retail frozen food in Italy), as well as its chilled dairy business in the Philippines.
With sales of around Eur2.6 billion, Froneri will operate in 22 countries across the world, employing around 15,000 people. The company is headquartered in the UK and operates sites primarily in Europe, the Middle East, (excluding Israel), Argentina, Australia, Brazil, the Philippines and South Africa.
Froneri’s leadership team combines industry expertise and business acumen from across Nestlé and R&R. The company’s board of directors is chaired by Luis Cantarell, Nestlé’s Executive Vice President, Europe, Middle East and North Africa and its CEO is Ibrahim Najafi, formerly CEO of R&R.
Nestlé and PAI Partners, the owner of R&R, have equal equity interests in the joint venture.
