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03/10/2025 01:50 AST
Goldman Sachs and the state-linked Abu Dhabi Investment Authority have invested in Haagen-Dazs owner Froneri, in a deal that values the ice cream company at around 15 billion euros ($17.6 billion), including debt.
Froneri is a joint venture between European buyout firm PAI Partners and Swiss packaged food giant Nestle.
PAI said on Thursday it had completed a 3.6-billion-euro deal that would create a new ownership structure for its 50% in Froneri, with a subsidiary of ADIA becoming a "significant minority co-investor" and a vehicle led by Goldman Sachs Alternatives also taking a stake.
The deal values Froneri at around 15 billion euros including debt, two sources with knowledge of the situation told Reuters.
Nestle said it was retaining its around 50% stake in Froneri.
Froneri is home to ice cream brands including Haagen-Dazs and Rowntree's, and competes with Unilever's soon-to-be spun off ice cream unit The Magnum Ice Cream Company. It has global revenues of $5.5 billion, PAI said in its statement.
Froneri was formed in 2016 as a 50:50 joint venture between Nestle and PAI unit R&R Ice Cream. It bought Nestle's US ice cream business in 2019 in a $4 billion deal.
Asharq Al Awsat
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03/10/2025
Emirates Islamic has joined forces with Amazon UAE and Mastercard to launch the first Amazon Credit Card in the Middle East and North Africa region.
Soon to be available exclusively in the
Trade Arabia
03/10/2025
Aluminium Bahrain (Alba) was honoured with the RoSPA President's Award during the Royal Society for the Prevention of Accidents (RoSPA) Safety Summit 2025.
The event was held in partnership
Trade Arabia
03/10/2025
In a move reflecting its commitment to a smarter and more agile investment future, National Investments Company has signed a strategic agreement to develop and implement an integrated Artificial Inte
Kuwait Times
03/10/2025
International Holding Company (IHC), the Abu Dhabi-based global investment firm, has announced a $1 billion (INR88.55 billion) investment in India's Sammaan Capital Limited, one of the country's larg
Gulfnews
03/10/2025
Elegancia Catering, a subsidiary of Estithmar Holding Q.P.S.C., signed an MoU this morning in Damascus with Urbacon Airports to establish a central production unit for catering services at Damascus I
The Peninsula
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