Froneri, the ice cream joint venture owned by Nestlé and R&R, has agreed to acquire Noga Ice Creams from Nestlé.
Noga is presently a part of the Nestlé-owned business Osem Group, and the deal sees Froneri enter the Israeli market for the first time.
The acquisition will bring all of the Nestlé Europe, Middle East, and North Africa ice cream companies into the Froneri group.
We’re very excited to be built on the strengths of our present joint venture with Nestlé, stated Ibrahim Najafi, CEO of Froneri. “By coming into Israel, we’re persevering with to grasp our vision of changing into the world’s best ice cream company.”
He added: “Our consumers are on the heart of our enterprise and we intend to spend money on the local brands, products, and flavors that Nestlé has been thrilling the market with for over 20 years. We’re trying ahead to welcoming the staff into Froneri.”
Froneri stated the present management staff would proceed to lead Noga, and its brands similar to La Cremeria, Extreme, Crunch, Cookilida, and Gumigum will continue to be out there.
Marco Settembri, CEO Europe, Middle East, and North Africa zone of Nestlé, mentioned: With its constant growth and global fame in the ice cream market – Froneri’s success speaks for itself. This milestone deal marks the ultimate stage of the transition of our EMENA ice cream companies into Froneri, additional strengthening its presence within the area.
The deal comes two months after Froneri secured an agreement to acquire Fonterra’s New Zealand ice cream business Tip Top for NZD 380 million ($250.2 million).
Earlier this year, Froneri launched Nuii, a brand new ice cream sticks model, in a move to target the adult evening snack occasion.