The maker of Maggi stock cubes and Nescafe coffee, said it was in advanced talks to sell ice cream businesses in Asia, Canada and parts of Latin America to Haagen-Dazs owner Froneri, a joint venture which Nestle established with European buyout firm PAI Partners.
Nestle holds a 50% stake in Froneri, which was valued at some 15 billion Euros ($18 billion) including debt, in October last year when Goldman Sachs and the state-linked Abu Dhabi Investment Authority invested in the business. Nestle plans to focus on its coffee, petcare, nutrition and food & snacks units, it said in a statement, as it reported better than expected fourth-quarter sales growth.
“We are accelerating executions with a leaner, more performance-driven organisation, and the stage is set for continuous improvement in 2026 and beyond,” Navratil told reporters.
–Reuters–
