London —
Nestlé has thawed on ice cream.
The world’s biggest food and drinks maker said Thursday that it was in “advanced negotiations” to sell its remaining ice cream business to its joint venture partner, Froneri.
The division, which includes brands such as Häagen-Dazs and Drumstick, is valued at just shy of 1 billion Swiss francs ($1.3 billion). Nestlé plans to sell the brands to UK-based Froneri over the next year, but remain in the joint venture.
Nestlé’s share price gained 3% in morning trade in Zurich, before giving up some of