Published On: Thu, Jul 4th, 2019

Froneri acquires Israeli ice cream manufacturer Noga Ice Creams from Nestle

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Froneri acquisition of Noga Ice Creams : Ice cream manufacturer Froneri has agreed to acquire Noga Ice Creams from Israeli food manufacturer and distributor Osem Group for an undisclosed price to foray into Israel.

Osem Group is in turn owned by Nestlé which created Froneri as a joint venture with PAI Partners in 2016. Froneri is claimed to be the second largest ice cream manufacturer in Europe, the third largest ice cream manufacturer in the world and the leading private label producer across the globe.

Froneri acquisition of Noga Ice Creams, which is subject to regulatory approval, will introduce all of the Nestlé Europe, Middle East and North Africa ice cream businesses into the former.

Commenting on Froneri acquisition of Noga Ice Creams, Ibrahim Najafi – CEO of Froneri said: “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 acquisition of Noga Ice Creams

Froneri acquisition of Noga Ice Creams. Photo courtesy of Froneri International Limited.

Froneri said that that the existing management team of Noga Ice Creams will continue to lead the ice cream business. The ice cream manufacturer said that major Noga ice cream brands like La Cremeria, Extreme, Cookilida, Gumigum and Crunch will continue to be available.

Marco Settembri – CEO of Nestlé Zone Europe, Middle East and North Africa, commenting on Froneri acquisition of Noga Ice Creams, said: “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.”

In May 2019, Froneri signed a deal to acquire Tip Top, a New Zealand ice cream brand, from dairy major Fonterra for NZ$380 million ($250.3 million). Check here to read Froneri acquisition of Tip Top.

For more food acquisition news and ice cream industry news like Froneri acquisition of Noga Ice Creams, keep following Business News Today.

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