12 Dec 2019 --- Nestlé has reached agreement to sell its US ice cream business to Froneri, an ice cream-focused joint venture Nestlé created in 2016 with PAI Partners, for a transaction value of US$4 billion. In this move, the Swiss giant will be offloading notable ice cream brands such as Häagen-Dazs, Drumsticks, Edy’s and Dreyer’s. Froneri, which already has operations in Europe, Latin America, Africa and Asia-Pacific will now have a strong presence in the US, the largest ice cream market in the world, notes Nestlé.