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As part of its financial reporting, Nestlé has confirmed it is accelerating plans to exit most, if not all, of its remaining ice cream operations as part of a strategy to streamline and sharpen focus on higher-growth core categories.
In fourth-quarter earnings results, Nestlé confirmed it is in discussions to sell its remaining ice cream businesses in Asia, Canada and parts of Latin America to Froneri, the joint venture it established in 2016. Currently, Nestle holds a 50% stake in Froneri.
The businesses under review include local operations that were not previously transferred to Froneri.
Over the last decade, Nestlé’s ice cream portfolio has increasingly been operated by the joint venture, while the US ice cream business was sold in 2019 for $4 billion.
These moves helped Froneri transform into one of the world’s largest ice cream manufacturers, controlling brands such as Häagen-Dazs.
While the financial reports confirmed strategic intent, no binding agreements or valuation details have been revealed.
The potential exit from ice cream follows Unilever’s decision to do the same after it separated its global ice cream portfolio into a standalone publicly traded company, the Magnum Ice Cream Company.
The move also aligns with Nestlé CEO Philipp Navratil’s broader strategy to streamline the company after taking up the post in September last year.
Speaking in the report, Navratil commented: “We are accelerating our strategy. We are focusing our portfolio on four businesses, led by our strongest brands, with prioritised resources and a simplified organisation.”
Soon after his appointment, it was announced that the company planned to reduce its workforce and focus on coffee, pet care, nutrition and food and snacks.
He continued: "I am encouraged by our performance during 2025, which reflects the targeted actions we have taken in a difficult external environment".
In addition to divesting its remaining ice cream operations, the report also confirmed changes to Nestlé’s executive board, stating: “With the formation of the newly integrated nutrition business, the globally managed business structure of Nestlé Health Science will be removed”.
Anna Mohl, CEO of Nestlé Health Science, will step down from the board at the end of this month.
Beyond ice cream, Nestlé confirmed it has concluded a strategic review of its mainstream and value vitamin and supplement brands and is preparing to engage with potential buyers.
The company also plans to deconsolidate its water business from 2027 and has initiated formal discussions with prospective partners in the first quarter.
