Nestlé Moves to Create Global Leader in Ice Cream
Nestlé announced today that it has reached an agreement to sell its U.S. ice cream business to Froneri, an ice cream-focused joint venture Nestlé created in 2016 with PAI Partners, for a transaction value of USD 4 billion.
In 2016, Nestlé and PAI Partners merged Nestlé’s European ice cream business in 20 countries and PAI-owned R&R to create Froneri, one of the world’s largest ice cream companies.
With a portfolio of iconic brands, unparalleled ice cream knowledge and focus as well as an agile and entrepreneurial management style, Froneri has been able to achieve rapid sales and profit growth, steadily gaining market share and reaching a turnover of around CHF 2.9 billion in 2018.
Froneri, which already had operations in Europe, Latin America, Africa and Asia-Pacific will now have a strong presence in the U.S., the largest ice cream market in the world. The recent acquisitions of TipTop in New Zealand and Nestlé’s ice cream business in Israel have also increased Froneri’s growing global footprint.
Nestlé USA’s successful ice cream business comes with a high-caliber management team, marketing, manufacturing and sales/distribution capabilities. In 2018, turnover was USD 1.8 billion. With brands like Häagen-Dazs, Drumstick and Outshine, the business commands leadership in key ice cream categories, notably super premium.
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Commenting on the transaction, Mark Schneider, Nestlé CEO, said: “The creation of Froneri has been a phenomenal success. We are now making this business our global strategic partner in ice cream and are convinced that Froneri’s successful business model can be extended to the U.S. market. With this transaction, we are taking a decisive step towards our goal of achieving global leadership in ice cream.”
Ibrahim Najafi, Froneri CEO, said: “This is another milestone acquisition for Froneri as we drive towards becoming the world’s best ice cream company. We’re delighted to be bringing such well-loved U.S. brands into the Froneri family. The acquisition is testament to the strength and longevity of our relationship with Nestlé. This partnership and the continued support of PAI Partners will be essential to ensuring we continue to delight consumers with innovative, high quality products in all markets.”
Frédéric Stévenin, Partner at PAI Partners, said: “We are excited to bring Nestlé’s stellar U.S. ice cream business to Froneri. This is a great opportunity for further growth, building on the expertise of the world’s leading pure-play ice cream company.”
The transaction is expected to close in the first quarter of 2020, following the completion of customary regulatory approvals. Nestlé will continue to manage its remaining ice cream businesses in Canada, Latin America and Asia as part of its current market structure.
Chloe’s Launches Dairy Free Dark Chocolate Dipped Pops, Nickelodeon Pops
By Lorrie Baumann
Chloe’s™ has expanded its line of Fruit Pops made from only fruit, water and cane sugar with new Dairy Free Dark Chocolate Dipped and Nickelodeon-branded Pops. “We created Chloe’s with kids in mind. At the outset, we were simply looking to offer a clean, delicious frozen treat that kids would love and parents would feel great about serving to their family,” said Founder Chloe Epstein.
She started the company in 2010 with a New York City store that competed with frozen yogurt shops with its line of Soft Serve Fruit made from just fruit, water and cane sugar. A downtown flagship store remains open, but the company has since shifted its focus to packaged retail products like the Fruit Pops. Starting in 2014, Chloe’s now offers nine core varieties that had been popular in the New York shop: Mango, Strawberry, Dark Chocolate, Blueberry, Cold Pressed Coffee fueled by La Colombe, Raspberry, Pomegranate, Tangerine and Pineapple.
With the new introductions, that line has expanded to include Banana, Strawberry and Dark Chocolate Pops dipped in Dairy Free Dark Chocolate. The Dark Chocolate Dipped Pops are also rolled in a quinoa puff, so they’re crunchy, while still being gluten free like the rest of the line.
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The original line of Chloe’s Fruit Pops are sold in packages of four 2.5-ounce Pops that retail for about $3.99. The Dairy Free Dark Chocolate Dipped Pops are also sold in boxes of four, and they retail for about $4.99. The Nickelodeon-branded products are sold in boxes of 10 1.5-ounce pops that retail for about $3.98 to $6.99.
The Dark Chocolate Dipped are shipping now, while Nickelodeon Pops should be reaching markets early this month.
Serendipity Brands Premiers Premium Ice Creams for Retail Sale
Serendipity Brands premieres a new line of super-premium ice cream, based on the iconic NYC restaurant, Serendipity 3, founded in 1954. The decadent line of ice cream is now available at participating 7- Eleven stores nationwide as well as other select retailers.
Eight fantastical flavors, inspired by the restaurant’s signature sundaes, include Frrrozen Hot Chocolate, Strawberry Fields Sundae, Forbidden Broadway Sundae and Outrageous Banana Split. With a history that spans almost 65 years (and always a line out the door), Serendipity 3 restaurant has entertained the appetites of children, adults and famous celebrity personalities alike. A true treat and an exciting experience – it only makes sense to create a brand of memorable flavors to match!
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“One of Serendipity 3’s long-time customers, Andy Warhol, once said, ‘The idea of waiting for something makes it more exciting,’ and that’s exactly how our team feels about the launch of our new super premium line of ice cream,” said Mark Smolin, Chief Executive Officer of Serendipity Brands. “The wait is finally over, and we couldn’t be more thrilled that for the first time our fans outside of New York City and across the United States will now be able to enjoy these iconic flavors right from their own freezer.”
