How Nestle Plans To Reshape Its Business Without Ice Cream

Nestle, the world’s largest food and beverage company, is moving to exit the ice cream business as part of a broader strategy shift. The company said it is in advanced talks to sell its remaining ice cream operations, including brands such as Häagen-Dazs and Drumstick, to joint venture partner Froneri.

The business is valued at nearly 1 billion Swiss francs, or about $1.3 billion. Nestle plans to complete the sale over the next year while staying involved in the joint venture.

Nestle to sell ice cream businesses as new CEO slims down group https://t.co/J0kC5XxAMV https://t.co/J0kC5XxAMV

— Reuters Business (@ReutersBiz) February 19, 2026

New CEO Philipp Navratil said ice cream lacked global scale and distracted from Nestle’s core focus on coffee, pet care, nutrition, and snacks. The move follows similar steps by rivals such as Unilever.

Nestle is also cutting thousands of jobs and dealing with fallout from a recent infant formula recall, which is expected to weigh modestly on sales this year.

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