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In yet another sign that the consumer goods industry is trying to accommodate changes in consumer taste, Nestle just parted ways with Häagen-Dazs.
In a deal worth $4 billion, Nestle announced plans on Wednesday to sell its U.S. ice cream division to Froneri, a joint venture Nestle formed with private equity firm PAI Partners in 2016.
While Nestle’s U.S. ice cream operation—which includes brands such as Häagen-Dazs, Dreyer’s and Drumstick—had sales totaling $1.8 billion last year, analysts told Adweek that Nestle likely decided to sell the business due to underperformance.
Nestle’s plan is to “move more of their indulgent portfolio outside of their core business,” said Jitender Batra, a director at consulting firm AlixPartners.
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