economy
The world’s biggest food company doesn’t want to make ice cream anymore
Nestle has thawed on ice cream.
TL;DR
- Nestlé is negotiating to sell its remaining ice cream business, including Häagen-Dazs and Drumstick, to Froneri for nearly $1.3 billion.
- The sale is part of CEO Philipp Navratil's strategy to simplify Nestlé's operations and focus on core businesses like coffee, pet care, and nutrition.
- Nestlé views its six ice cream brands as a "distraction" lacking global scale compared to Froneri's capabilities.
- Nestlé is also cutting approximately 16,000 jobs worldwide to reduce costs.
- The company is facing stock shortages and returns of some infant formula products due to a recall initiated after detecting traces of the toxin cereulide.
- The infant formula recall is being investigated for potential links to infant deaths, although no causal link has been scientifically established.
- The recall has prompted the EU to set stricter limits on cereulide levels in baby products.