UK-based ice cream manufacturer Froneri has agreed to acquire Israeli firm Noga Ice Creams, which is part of the Nestlé-owned business Osem Group.

The acquisition will enable Froneri to enter the Israeli market.

The transaction, subject to regulatory approval, will bring Nestlé Europe, Middle East & North Africa ice cream businesses into the Froneri group.

Froneri chief executive officer Ibrahim Najafi said: “We’re very excited to be building on the strengths of our existing joint venture with Nestlé. By entering Israel we’re continuing to realise our vision of becoming the world’s best ice cream company.”

The company said that the existing management team will continue to lead the business.

Najafi said: “Our consumers are at the heart of our business and we intend to invest in the local brands, products and flavours that Nestlé has been exciting the market with for over 20 years. We’re looking forward to welcoming the team into Froneri.”

Popular brands of Noga, including La Cremeria, Extreme, Cookilida, Crunch and Gumigum, will continue to be available after the acquisition.

Nestlé chief executive officer of Zone Europe, Middle East and North Africa Marco Settembri said: “With its continued growth and global prominence in the ice cream market, Froneri’s success speaks for itself.

“This milestone deal marks the final stage of the transition of our EMENA ice cream businesses into Froneri, further strengthening its presence in the region.”

Froneri, which was established in 2016 as a joint venture between PAI Partners and Nestlé, is the second largest manufacturer of ice cream in Europe.

It is also the third largest manufacturer of ice cream worldwide and the number one private label producer worldwide.

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