Froneri enters Israel with acquisition of Nestlé ice cream business
Noga is part of the Nestlé-owned business Osem Group and means Froneri, which is a joint venture between Nestlé and PAI Partners, will be entering the Israeli market for the first time. The deal will now bring all of the Nestlé Europe, Middle East & North Africa ice cream businesses into the Froneri group.
Speaking about the deal, 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 realize our vision of becoming the world’s best ice cream company.”
Froneri has confirmed the existing management team will continue to lead the business.
Najafi added, “Our consumers are at the heart of our business and we intend to invest in the local brands, products and flavors that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri.”
Marco Settembri, CEO Zone Europe, Middle East and North Africa, Nestlé, 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.”
Noga brands including La Cremeria, Extreme, Cookilida, Crunch and Gumigum will continue to be available.
