Nestle sells US Haagen-Dazs unit to PAI Venture for US$4bil

Intense competition: Nestle, that includes brands like Haagen-Dazs and Drumstick, is expanding to create a stronger challenger to Unilever, the global leader in ice cream. — Reuters

Zurich: Nestle SA is selling its US ice cream business that includes brands like Haagen-Dazs and Drumstick to a joint venture with private equity firm PAI Partners for US$4bil.

The venture, Froneri, was created in 2016 when the Swiss company merged its European ice cream business with PAI-owned R&R.