M&A Deal Summary

Froneri Acquires Tip Top

On May 13, 2019, Froneri acquired food company Tip Top from Fonterra Co-operative Group for 380M USD

Acquisition Highlights
  • This is Froneri’s 2nd transaction in the Food sector.
  • This is Froneri’s 2nd largest (disclosed) transaction.
  • This is Froneri’s 1st transaction in New Zealand.

M&A Deal Summary
Date 2019-05-13
Target Tip Top
Sector Food
Buyer(s) Froneri
Sellers(s) Fonterra Co-operative Group
Deal Type Divestiture
Deal Value 380M USD

Target

Tip Top

Auckland, New Zealand
website
Tip Top engages in the production and distribution of ice creams. Tip Top offers ice cream bars, jelly tips, choco bars, chilled products, ice cream tubs, and scoops. It sells its products through retailers and scoop shops in New Zealand.

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Buyer(S) 1

Buyer

Froneri

North Yorkshire, United Kingdom

website

Category Company
Founded 2016
Sector Food
DESCRIPTION

Froneri is an ice cream manufacturer in Europe. The Company manufactures a broad range of primarily private-label ice cream products across the UK, France, Italy, and Germany. Froneri was founded in 2016 and is based in North Yorkshire, England.

DEAL STATS #
Overall 2 of 3
Sector (Food) 2 of 3
Type (Divestiture) 1 of 2
Country (New Zealand) 1 of 1
Year (2019) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 R&R Ice Cream

Northallerton, United Kingdom

R&R Ice Cream Plc is a producer and supplier of own-label ice cream with a strong branded portfolio including Nestlé, Skinny Cow, YooMoo frozen yogurt, Kelly's of Cornwall and Disney.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-11 Nestlé S.A. - USA Ice Cream Business

United States

Nestlé S.A. - USA Ice Cream Business is a manufacturer of ice creams with brands including Dreyer’s, Häagen-Daaz, Outshine, Skinny Cow, Edy’s, Nestlé Ice Cream and Drumstick.

Buy $4.0B

Seller(S) 1

SELLER

Fonterra Co-operative Group

Auckland, New Zealand

website

Category Company
Founded 2001
Sector Food
Employees19,608
Revenue 23.0B NZD (2022)
DESCRIPTION

Fonterra Co-operative Group is a global, co-operatively-owned company with its roots firmly planted in New Zealand’s rich land, working to unlock every drop of goodness from the 22 billion litres of milk they collect each year and sharing it with the world. Fonterra Co-operative Group was founded in 2001 and is headquartered in Auckland, New Zealand.

DEAL STATS #
Overall 2 of 3
Sector (Food) 2 of 2
Type (Divestiture) 2 of 2
Country (New Zealand) 1 of 1
Year (2019) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Bega

North Bega, Australia

Bega engaged in manufacturing both processed and natural cheddar cheese products. Bega was founded in 1899 and is based in Bega, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 DFE Pharma

Goch, Germany

DFE Pharma is an excipient manufacturer. Excipients are the inactive substances that are blended with the active ingredients in medicine for purposes such as binding, bulking, disintegration or to aid in the processing of the active ingredient. With operations in Europe, India and New Zealand and an active presence in over 100 countries, DFE develops, produces and markets excipients primarily for oral solid dose and dry powder inhalation. DFE Pharma is based in Goch, Germany.

Sell -
Mergr

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