Nestlé Sells U.S. Ice Cream Business To Joint Venture Froneri

Nestle is selling its US ice cream business to Froneri for $4 billion to revitalize its market share, which has declined from 19% in 2010 to 15% recently. Froneri, a joint venture with PAI Partners, has become a major player in the ice cream industry, operating in 20 countries. Nestle aims to replicate Froneri's success in the US market, which is valued at $11 billion. Despite strong competition from Unilever, Nestle is optimistic about achieving global leadership in ice cream. The sale is expected to close in early 2020, with Nestle retaining its ice cream operations in Canada, Latin America, and Asia.

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