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OPINION: One of the world's largest ice cream makers, Nestlé, is going cold on the viability of making the dessert.
The conglomerate is in "advanced negotiations" to sell its remaining ice cream businesses to its joint venture partner, Froneri.
The division, which includes brands such as Häagen-Dazs and Drumstick, is valued at just shy of 1 billion Swiss Francs (US$1.3 billion). Nestlé plans to sell the brands to UK-based Froneri over the next year but remain in the joint venture.
Froneri is the second largest manufacturer of ice cream in Europe and the third largest worldwide, producing Cadbury, Oreo, KitKat, Movenpick Toblerone, Smarties, Magnum and Milo ice creams.
Froneri also owns Tip Top Ice Cream, for which it paid Fonterra $380 million in 2019.
A partnership between Canterbury milk processor Synlait and the world's largest food producer, Nestlé, has been celebrated with a visit to a North Canterbury farm by a group including senior staff from Synlait, the Ravensdown subsidiary EcoPond, and Nestlé's Switzerland head office.
OPINION: Media reports say global recalls tied to cereulide toxin contamination in milk-based nutrition brands could inflict combined financial losses exceeding $1 billion.
OPINION: At a time when dairy prices are at record highs, no one was expecting the world's second largest dairy player to slash jobs.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
Global food company Nestle’s chair Paul Bulcke will step down at its next annual meeting in April 2026.
A verbal stoush has broken out between Federated Farmers and a new group that claims to be fighting against cheaper imports that undermine NZ farmers.
According to the latest ANZ Agri Focus report, energy-intensive and domestically-focused sectors currently bear the brunt of rising fuel, fertiliser and freight costs.
Having gone through a troublesome “divorce” from its association and part ownership of AGCO, Indian manufacturer TAFE is said to be determined to be seen as a modern business rather than just another tractor maker from the developing world.
Two long-standing New Zealand agricultural businesses are coming together to strengthen innovation, local manufacturing capability, and access to essential farm inputs for farmers across the country.
A new farmer-led programme aimed at bringing young people into dairy farming is under way in Waikato and Bay of Plenty.
The Government has announced changes to stock exclusion regulations which it claims will cut unnecessary costs and inflexible rules while maintaining environmental protections.
