Nuffoods Spectrum India

Froneri buys ice cream biz from Fonterra for $380M

13 May 2019 | News

Froneri is the third largest ice cream manufacturer in the world

image credit- morefrm.co.nz

image credit- morefrm.co.nz

New Zealand’s iconic ice cream company has a new owner, after global ice cream company Froneri has purchased Tip Top from Fonterra for $380 million.

Fonterra CEO Miles Hurrell confirmed the sale, saying it was a bittersweet moment for Fonterra. “Since we took ownership of Tip Top in 2001, a lot of work has gone into ensuring it remained New Zealand’s leading ice cream company. Over that time, we’ve had strong support from New Zealanders, and I want to recognise and thank them for that", he said.

Froneri is the third largest ice cream manufacturer in the world, selling a staple of well-known ice cream brands in 20 countries. Froneri brings leadership and global expertise in ice cream, reach into new ice cream markets, and new consumer products.

Froneri CEO Ibrahim Najafi says the Tip Top name and its operations, including the Auckland based factory site at Mount Wellington will be maintained.

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account

© Copyright 2019. Nuffoods Spectrum. All Rights Reserved.
Web Interface Conceived and Powered By : SCI Knowledge Interlinks