Goldman Sachs poised to buy into ice cream maker Froneri at $17.13 billion valuation: Report

Goldman Sachs is poised to buy into ice cream maker Froneri at a 15-billion-euro ($17.13 billion) valuation including debt, the Financial Times reported on Friday.

Reuters could not immediately verify the report.

The deal, which could be signed as soon as September, would involve Goldman's asset management division becoming the lead investor in a continuation vehicle established by French private equity firm PAI Partners, the report said citing sources.


Froneri is a joint venture between Switzerland-based Nestle and PAI unit R&R Ice Cream, set up in 2016, with the two merging their European ice cream business in 20 countries.

Nestle also sold its U.S. ice cream business to Froneri in 2019 in a $4 billion-deal, giving it control of Haagen-Dazs and other Nestle brands.

Goldman Sachs and Nestle did not immediately respond to Reuters' requests for comment, while PAI and Froneri could not be immediately reached for comment.