Nestle to merge ice cream arm in €3bn deal

Nestle is in talks to merge its international ice cream business with R&R Ice Cream in a €3bn deal, according to a source familiar with the matter, as the world’s biggest packaged food firm focuses more closely on its higher-performing brands.

The transaction is expected to result in a 50/50 joint venture with R&R, which is owned by French private equity firm PAI, sources said yesterday, noting it could be announced as early as this week.

The venture would include Nestle’s global ice cream operations outside of Israel and the US.