LEEMING BAR, England--(BUSINESS WIRE)--Froneri has agreed to acquire the Noga Ice Creams Limited Partnership, subject to regulatory approval. Noga is part of the Nestlé-owned business Osem Group and means Froneri will be entering the Israeli market for the first time. This milestone deal will now bring all of the Nestlé Europe, Middle East & North Africa ice cream businesses into the Froneri group.
Speaking about the deal, Ibrahim Najafi, CEO of Froneri explains: “We’re very excited to be building on the strengths of our existing joint venture with Nestlé. By entering Israel we’re continuing to realise our vision of becoming the world’s best ice cream company.”
Froneri has confirmed that the existing management team will continue to lead the business.
Mr. Najafi continues: “Our consumers are at the heart of our business and we intend to invest in the local brands, products and flavours that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri.”
Marco Settembri, CEO Zone Europe, Middle East and North Africa, Nestlé commented: “With its continued growth and global prominence in the ice cream market, Froneri’s success speaks for itself. This milestone deal marks the final stage of the transition of our EMENA ice cream businesses into Froneri, further strengthening its presence in the region.”
Leading Noga brands including La Cremeria, Extreme, Cookilida, Crunch and Gumigum will continue to be available.
Froneri is a fast-growth international business with a vision to build the world’s best ice cream company. A passionate challenger brand, we are building the market through a focus on ice cream, delivering value for retailers and consumers. Created in 2016 as a joint-venture between PAI Partners and Nestlé, we are the second largest manufacturer of ice cream in Europe, the third largest worldwide and the number one private label producer worldwide. We are present in over 20 countries with revenues of €2.6bn (2018) and over 10,000 employees worldwide. For more information visit: www.froneri.com