(Boursier.com) — Haagen-Dazs could change co-owners. PAI Partners has reportedly begun exploring various options for its 50-50 ice cream joint venture with Nestlé, according to people familiar with the matter cited by ‘Bloomberg’. The JV, Froneri, could be valued at more than $10 billion in a deal, according to sources. Froneri was formed in 2016 when the Swiss company merged its European ice cream business with PAI-owned R&R. In 2019, Nestlé sold its US ice cream business to Froneri for $4 billion.
The private equity firm could launch a so-called dual-track process in the second half of the year, exploring both a sale and an IPO for its stake. Nestlé is expected to retain its stake, according to sources.
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