Frozen food joint venture for Nestle and R&R Ice Cream

A JOINT venture between ice cream giant Nestlé and Northallerton’s R&R Ice Cream has created a £1.9bn company.

Headquartered in the UK and operating in Europe, the Middle East (excluding Israel) as well as Argentina and Brazil, Australia, the Philippines and South Africa.

The new company will combine both firm’s ice cream divisions, and include Nestlé’s European frozen foods business, and chilled dairy in the Philippines.

Ibrahim Najafi, R&R Ice Cream CEO: “I am thrilled about the potential of Froneri and the opportunity for R&R to combine with the biggest and best food business in the world. R&R has gone from strength to strength in the last few years and the blend of people from the two organisations will create a leading team, ideally suited to drive future growth.”

Paul Bulcke, Nestlé chief executive: “This is an exciting growth opportunity in a dynamic category. Froneri will capitalise on complementary strengths and innovation expertise, combining Nestlé’s strong and successful brands and experience in ‘out-of-home’ distribution with R&R’s competitive manufacturing model and significant presence in retail.”

Frédéric Stévenin, partner at PAI Partners: “Froneri, through the combination of Nestlé’s and R&R’s expertise, and the backing of PAI Partners, is a unique and exciting opportunity for further strong growth. We look forward to further leveraging our industrial approach to ownership and strong consumer expertise to support R&R in this new venture.”

Luis Cantarell, Nestlé Executive Vice President Europe, Middle East and North Africa, will chair Froneri’s board of directors which will be composed of three senior Nestlé executives and three senior executives appointed by private equity firm PAI Partners, R&R’s owner. Ibrahim Najafi will be Froneri CEO. Nestlé and PAI will have equal equity interests in the joint venture.

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