Nestlé, R&R create Froneri joint venture

Swiss food and drink provider Nestlé and UK-based R&R Ice Cream have created Froneri, a new joint venture offering ice cream, frozen food and chilled dairy products.

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.

The joint venture will include Nestlé’s European frozen food and chilled dairy businesses in the Philippines.

Nestlé and PAI Partners, a major European private equity investor, have equal equity interests in the joint venture.

Nestlé and R&R obtained required regulatory clearances for the deal.

Froneri will operate in 22 countries across the globe, and have a workforce made up of approximately 15,000 employees.

Its headquarters will be located in the UK and run by a management team from Nestlé and R&R.

The venture’s board of directors will be chaired by Luis Cantarell, Nestlé's executive vice president for Europe, Middle East and North Africa, and its CEO will be Ibrahim Najafi, former CEO of R&R.