Nestle Weighs Scaling Back Ice Cream Unit As Investors Seek Turnaround Plan From CEO [zero hedge]
NESTLE S.A S/ADR (NSRGY)
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Source: zero hedge
Nestle Weighs Scaling Back Ice Cream Unit As Investors Seek Turnaround Plan From CEO Update (1405ET) Nestlé SA reports full-year results on Thursday. Ahead of the release and investor call, CEO Philipp Navratil is expected to outline a turnaround plan, while a new report says the Swiss foodmaker is considering a smaller footprint in its ice cream business . People familiar with the discussions told Bloomberg : The Swiss food giant has been studying possibilities including cutting its stake in Froneri, an ice cream joint venture with private equity firm PAI Partners which includes brands like Häagen-Dazs and Mövenpick , according to the people. It could also consider selling some of its remaining fully owned ice cream operations to the Froneri venture, one of the people said. Deliberations are ongoing and there's no certainty a deal will eventually materialize. PAI could opt to increase its stake in Froneri if Nestlé decides to cut its holding , or the Swiss group could sell part of it
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