(Fixes typo in first sentence)
ZURICH Oct 3 Food giant Nestle and
Britain's R&R Ice Cream have completed a transaction to create
their new Froneri ice cream and frozen food joint venture,
Nestle said on Monday.
"With sales of around 2.6 billion euros ($2.92 billion),
Froneri will operate in 22 countries across the world, employing
around 15,000 people," Froneri said on its website.
The 50/50 joint venture announced in April will combine
Nestle and R&R ice cream businesses across Europe, the Middle
East, Argentina, Australia, Brazil, the Philippines and South
It will also include Nestle's European frozen food business
excluding pizza and retail frozen food in Italy, as well as its
chilled dairy business in the Philippines.
The terms of the transaction were not disclosed.
(Reporting by Brenna Hughes Neghaiwi; Editing by Michael