Nestlé Australia cold on ice cream business sale rumours

By Ben Bouckley

- Last updated on GMT

Related tags Ice cream

Skinny Cow - One Nestlé Peters Brand
Skinny Cow - One Nestlé Peters Brand
Nestlé Australia has refused to confirm rumours that it is looking to exit its Nestlé Peters ice cream business in the country, after press reports today suggested a potential AUS $330m (€261m) sale.

The Wall Street Journal quoted “two people familiar with the matter” ​who said the business was for sale, and added that Nestle Australia was being advised by J.P Morgan and could realise the 12x earnings before interest and tax (EBIT) sale figure cited above.

But asked about the story, a Nestlé Australia spokeswoman told“Our comment is as follows – Nestlé does not comment on rumour or speculation.”

Brands sold in Australia include Icy Pole, Skinny Cow, Monaco Bar, Drumstick, Billabong, Connoisseur, and Eskimo Pie, and according to the paper, Nestlé Peters is expected to post earnings before interest and tax (EBIT) of AUS $27.5m in 2012.

Related topics Manufacturers Ice Cream Nestlé

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