UPDATE: Global ice cream company Froneri snaps up Tip Top

Mon, 13 May 2019

(Updates to add CEO comment throughout, comment from New Zealand First) By Rebecca Howard May 13 (BusinessDesk) - Global ice cream company Froneri has bought Fonterra Cooperative Group's Tip Top for $380 million, ending a six-month sale process. The price was about $100 million above book value, which will lift earnings by six cents per share, Fonterra said. The agreed settlement date is May 31. While there will be a transition period over a number of months, it will be "very much business as usual" and Tip Top employees will tra...

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