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Nestle Enters Advanced Talks to Sell Remaining Ice Cream Business to Froneri

The potential divestment signals a push toward core brands after infant formula recalls pressured earnings.

A machine places lids on tubs of Giovanni's ice cream on the production line at the R&R Ice Cream Plc factory in Leeming Bar, U.K., on October 14, 2015.
An employee fills an ice cream cone at the Häagen-Dazs shop opening in Sylt, Germany in 2015.
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Overview

  • Nestle said discussions on transferring its last ice cream operations to the Froneri joint venture are advanced, though no deal is assured.
  • The company has begun a potential sale process for its waters and drinks division, reportedly valued at about £4.4 billion and expected to be deconsolidated from 2027.
  • Management is also weighing a smaller presence in ice cream by reducing its Froneri stake or moving fully owned assets into the venture, according to earlier reports.
  • Infant formula recalls weighed on 2025 results, including a 75 million Swiss franc hit to underlying profit and a 110 million franc inventory write-off.
  • New CEO Philipp Navratil is refocusing the portfolio on coffee, petcare, nutrition, and food and snacks, with shares up about 3% after the update.