Under the sale, PEP will acquire the iconic Peters ice cream brand, together with well known and sub-brands such as Original, Light & Creamy, Billabong, Frosty Fruits and Monaco Bar.
EP will also acquire a long-term licence to market and sell in Australia certain global Nestlé ice cream brands, including Drumstick, Heaven, Maxibon, Skinny Cow and Milo Scoop Shake.
Nestlé Australia MD Graham Campbell said: “We have reviewed our broad range of businesses in Australia and decided to sell Peters Ice Cream with a view to focussing our portfolio. Our brands continue to play a strong role across a diverse range of food sectors, reflecting our long term commitment to the Australian food industry.”
The transaction is subject to customary closing conditions.
Source: Nestlé Australia
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