Nestlé Moves to Sell Ice Cream Brands in $1.3B Deal

Nestlé is exiting the ice cream business, announcing “advanced negotiations” to sell its remaining portfolio, including Häagen-Dazs and Drumstick, to joint venture partner Froneri for approximately $1.3 billion.

The move comes as new CEO Philipp Navratil seeks to simplify the sprawling conglomerate and focus on core businesses: coffee, pet care, nutrition, and snacks.

Navratil described the six ice cream brands as a “distraction” lacking global scale. The sell-off follows Nestlé’s plan to cut 16,000 jobs worldwide through automation and AI.

Meanwhile, the company is grappling with a major infant formula recall after traces of the toxin cereulide were found in product samples.

France’s health ministry is investigating three infant deaths potentially linked to recalled formula, though Nestlé maintains no causal link has been scientifically established.

The crisis has prompted the European Union to set stricter limits on cereulide levels in baby products, adding regulatory pressure to Nestlé’s ongoing transformation.