Nestlé and ice cream company R&R have announced that a new frozen food joint venture will be headquartered in the UK.
Called Froneri, the new company will combine Nestlé's and R&R ice cream activities in Europe, the Middle East, 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.
Commenting Paul Bulcke, Nestlé CEO said: “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.”
Ibrahim Najafi, R&R Ice Cream CEO said: “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.”
For more information visit http://www.nestle.com/media/pressreleases/allpressreleases/nestle-rr-joint-venture-froneri