Hideya HAMANO/HAMACHI! via flickr
Froneri was established in 2016 and is recognized as the world's second-largest ice cream producer following Magnum Ice Cream, which was created from Unilever. The firm's revenue increased from €2.6 billion in 2019 to €5.5 billion in 2024. It possesses various assets, including the Haagen-Dazs ice cream brand in the US, along with the Oreo and Cadbury brands.
A statement from PAI reveals that the Abu Dhabi Investment Authority (ADIA) will acquire a "substantial minority stake" in Froneri together with PAI. ADIA and PAI will collaborate to invest €1.4 billion directly in the firm.
PAI, which holds around 50% of Froneri, is also establishing a "continuation vehicle" to keep investments in the firm for an extended duration. Goldman Sachs Alternatives is the primary investor in this fund.
These mechanisms enable fund managers to hold onto portfolio companies beyond the usual 10-year duration of a private equity fund by drawing in new investors and permitting current investors to exit.
Reuters, referencing sources, reports that the agreement values Froneri at €15 billion, factoring in debt.
source: reuters.com
A statement from PAI reveals that the Abu Dhabi Investment Authority (ADIA) will acquire a "substantial minority stake" in Froneri together with PAI. ADIA and PAI will collaborate to invest €1.4 billion directly in the firm.
PAI, which holds around 50% of Froneri, is also establishing a "continuation vehicle" to keep investments in the firm for an extended duration. Goldman Sachs Alternatives is the primary investor in this fund.
These mechanisms enable fund managers to hold onto portfolio companies beyond the usual 10-year duration of a private equity fund by drawing in new investors and permitting current investors to exit.
Reuters, referencing sources, reports that the agreement values Froneri at €15 billion, factoring in debt.
source: reuters.com