Nestlé is in advanced talks with European ice-cream maker R&R Group to form a joint venture for ice cream mainly in Europe and Africa.
The world’s largest packaged foods company said the proposed merger with R&R, owned by French private-equity firm PAI Partners, would help its ice cream business grow. It expects the tie-up to be implemented next year and to be chaired by Luis Cantarell, Nestlé ‘s executive vice president for Europe, the Middle East and North Africa.
Switzerland-headquartered Nestlé will contribute its ice cream businesses in Europe, Egypt, the Philippines, Brazil and Argentina to the new joint venture and transfer its European frozen food businesses, excluding the pizza operation.
Full content: The Wall Street Journal
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