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REFILE-Nestle and R&R complete Froneri ice cream joint venture

Mon 3rd October, 2016 8:42am
(Fixes typo in first sentence) 
    ZURICH, Oct 3 (Reuters) - Food giant Nestle  NESN.S  and 
Britain's R&R Ice Cream have completed a transaction to create 
their new Froneri ice cream and frozen food joint venture, 
Nestle said on Monday. 
    "With sales of around 2.6 billion euros ($2.92 billion), 
Froneri will operate in 22 countries across the world, employing 
around 15,000 people," Froneri said on its website. 
    The  50/50 joint venture announced in April will combine 
Nestle and R&R ice cream businesses across Europe, the Middle 
East, Argentina, Australia, Brazil, the Philippines and South 
Africa.  urn:newsml:reuters.com:*:nL5N17U2AD 
    It will also include Nestle's European frozen food business 
excluding pizza and retail frozen food in Italy, as well as its 
chilled dairy business in the Philippines. 
    The terms of the transaction were not disclosed. 
 (Reporting by Brenna Hughes Neghaiwi; Editing by Michael 
 ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)) 
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