European Commission Clears Froneri Ice Cream Joint Venture
The European Commission has approved under the EU Merger Regulation the creation of Froneri, a joint venture by PAI Partners of France and Nestlé of Switzerland. Froneri will manufacture and market ice cream products in and outside of Europe, and frozen food products in Europe.
PAI Partners will contribute to Froneri its ice cream business, operating as R&R. Nestlé will contribute its ice cream business in Europe, the Middle East, North Africa, Philippines, Brazil and Argentina and part of its frozen food business in Europe.
The Commission concluded that the proposed acquisition would raise no competition concerns, because R&R and Nestlé are not close competitors in the European Economic Area ice cream markets and will continue to face competition from Unilever and several other ice cream manufacturers. The transaction was examined under the normal merger review procedure.
