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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Opinion

Simon Robertson: Trump, typhoons, taxes and tariffs

When the typhoon is in force, make money.

Simon Robertson 5:00am

On the Money

On the Money: New Breakers investor’s new buy, Infratil and more

Victoria Young 5:00am

Travel

Oz man's top travel tips after 58-hour global trip

He was in hot pursuit of a Guinness World Record.

The Washington Post 5:00am

Oz man's top travel tips after 58-hour global trip

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

More Primary Sector

Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025

Primary Sector

Urgent call for change in lagging agri-products approval pathway

But the regulators say changes are being made.

Riley Kennedy 17 Apr 2025

Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025

Primary Sector

Scott Technology's revenue drops 14%

Its long term strategy is not far away.

Riley Kennedy 16 Apr 2025

UPDATE: Global ice cream company Froneri snaps up Tip Top

More Primary Sector

Your company has a subscription

Team