Froneri purchases Tip Top
New Zealand dairy cooperative Fonterra has sold Tip Top ice cream to Froneri for $380m (US$250m), with the sale expected to be completed May 31.
Froneri, created in 2016 as a joint-venture between PAI Partners and Nestlé, is the third largest ice cream manufacturer in the world, selling well-known ice cream brands in 20 countries.
Miles Hurrell, CEO, Fonterra said it was “time to hand the baton to new owners’ because the brand needs continuous investment and focused ownership which it was ‘not in a position to do right now’.”
Tip Top employees will transfer to become part of Froneri over the coming months and continue to be led by the existing management team. The Tip Top name and its operations, including its Auckland, New Zealand, factory will remain the same.
Ibrahim Najafi, CEO, Froneri, said its vision is ‘to build the world’s best ice cream company’; to develop local market successes and roll them out across other markets.
Fresh milk & cream
Hurrell said, “One of the big attractions for Froneri is that Tip Top and Kāpiti ice cream both use fresh milk and cream, from New Zealand grass-fed cows. We’ve signed an agreement with the new owners to supply milk which ensures Fonterra farmers will continue to be part of the Tip Top story.
“We will also retain full global ownership of the Kāpiti brand and will be licencing its use for ice cream to Froneri.”
Kim Ballinger, MD, Tip Top, said as part of the Froneri family it will benefit from its scale and expertise, while continuing to maintain its commitment to its local heritage and loyal consumers in New Zealand and the wider Asia Pacific region.
Bennett’s Compound Butters
In the US, Bennett's Butter Co. has launched Bennett's Compound Butters, which come in six flavors.
The product can be used for cooking, baking, snacking, or even simply eating as is. The company said that, while Trader Joe's pioneered the Everything Bagel Seed craze, Bennett's spreadable Everything Bagel Butter is taking the trend to a next level and is the company’s best-selling product so far.
Filled with onions, garlic, white sesame seeds, black sesame seeds, poppy seeds, sea salt, plus a touch of honey, lemon juice, and scallions, Bennett's Butter can be used on everything from a marinade, a new way to roast potatoes, popcorn seasoning, or simply spread on toast.
It just hit shelves in King's and Balducci's supermarkets (with more to come) for $6.99 per cup, and is also available online in 6-packs for $35.
The flavors available are: Cinnamon + Brown Sugar Butter; Everything Bagel Butter; Roasted Garlic Butter; Blueberry Butter; Mushroom Butter; and Sriracha Jalapeno Butter.
YAAR launches UK’s first range of quark bars into Sainsbury’s
British brand YAAR has created a new category in the dairy and snack market with the launch of the UK’s first range of chilled quark bars.
There are three editions in the range. Two have launched into Sainsbury’s (Cloudberry and Vanilla) and all three have secured a listing at Whole Foods Market (Cloudberry, Vanilla and Toffee), with an RRP of 99p per bar.
Each bar is made of quark and coated in either a Belgian milk chocolate, caramel or toffee glaze. The center has a taste similar to yogurt and the texture of a cheesecake.
YAAR is backed by Aser, an investment company in sports, lifestyle and entertainment, which includes Leeds United and Eleven Sports in its portfolio.
The quark bars are less than 140 calories, gluten free, suitable for vegetarians and have no artificial colors, additives or preservatives.
Andrei Garbuz, founder of YAAR bar said, “YAAR was launched to disrupt the dairy category by bringing a brand new handheld dairy snack bar to UK consumers.
“With the introduction of the UK’s first quark bars, we are creating a new category and offering spoon-free dairy snacking on-the-go in an accessible, convenient and tasty format.”