Nestlé to sell Peters Ice Cream brand

Nestlé is selling its Peters Ice Cream business to Pacific Equity Partners (PEP). Under the terms of the agreement, PEP will acquire the Peters Ice Cream brand and other sub-brands such as Original, Light & Creamy, Billabong, Frosty Fruits and Monaco Bar, as well as Nestlé’s Mulgrave factory.

The acquisition will include a long-term licence to market and sell in Australia global Nestlé ice cream brands like Drumstick, Heaven, Maxibon, Skinny Cow and Milo Scoop Shake.

“We have reviewed our broad range of businesses in Australia and decided to sell Peters Ice Cream with a view to focusing our portfolio,” said Graham Campbell, Nestlé Australia Managing Director. “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.”

Campbell said the Peters Ice Cream business’s strong position is due to the hard work of the 500 people who make, distribute and sell the brand in Australia.

Most Nestlé employees will be offered employment with PEP, Campbell said, with the remaining employees retained by Nestlé.

PEP owns several other brands in the consumer goods sector, such as: SCA Hygiene Australasia, producing tissues and personal care products; Tegel, producing chickens; Griffin’s, producing biscuits such as Gingernuts and MallowPuffs; and Frucor, producing V energy drink. The company also has eight other portfolio investments in sectors such as finance, energy, administration services and entertainment.