The Swiss company Nestlé is exploring the possibility of reducing its ice cream business amid falling share prices, Bloomberg reported, citing its sources.
Nestlé may sell its stake in Froneri, a joint venture with PAI Partners, which owns the Haagen-Dazs and Movenpick brands. Another option is to transfer ownership of Nestlé's ice cream factories to Froneri.
Nestlé was for a long time the world's largest ice cream maker until Froneri acquired most of its business. The decision to review its stake in this industry comes amid a prolonged crisis, with Nestlé's shares near their lowest level in eight years.
Nestlé is a Swiss food corporation founded in 1866. Nestlé is headquartered in Vevey (canton of Vaud). The corporation's brands include KitKat, Maggi, Nesquik and Nestea.