Froneri to Acquire Uruguayan Ice Cream Producer CRUFI
Source: DairyNews.today
Froneri, a global leader in the ice cream industry, is set to acquire Uruguay-based CRUFI, a family-run company known for its production and marketing of ice cream and frozen foods.
The transaction, announced following the approval of the Uruguayan Commission for the Promotion and Defense of Competition on December 2, is expected to close by year-end, subject to final terms of the acquisition agreement.
Phil Griffin, CEO of Froneri, expressed enthusiasm about the expansion:
"We are thrilled to welcome CRUFI into the Froneri family. Entering the Uruguayan market is a significant step in our journey to become the world’s best ice cream company."
Froneri confirmed that CRUFI’s current management team will remain in place to lead the business. Griffin emphasized the importance of local flavors and innovation:
"Consumers are at the heart of what we do, and we are committed to investing in CRUFI’s local brands, products, and unique flavors that have delighted the market for years. We look forward to collaborating with the talented CRUFI team."
Andrés Juani, CEO of CRUFI, highlighted the significance of the partnership:
"Froneri’s success and global recognition in the ice cream industry speak volumes. This agreement is a milestone for CRUFI, offering exciting opportunities for the company and our team."
Froneri, established in 2016, operates in over 20 countries, generating revenues exceeding €5 billion and employing more than 12,000 people worldwide. The acquisition of CRUFI marks the company’s entry into Uruguay, further strengthening its position in the global ice cream market.
Phil Griffin, CEO of Froneri, expressed enthusiasm about the expansion:
"We are thrilled to welcome CRUFI into the Froneri family. Entering the Uruguayan market is a significant step in our journey to become the world’s best ice cream company."
Froneri confirmed that CRUFI’s current management team will remain in place to lead the business. Griffin emphasized the importance of local flavors and innovation:
"Consumers are at the heart of what we do, and we are committed to investing in CRUFI’s local brands, products, and unique flavors that have delighted the market for years. We look forward to collaborating with the talented CRUFI team."
Andrés Juani, CEO of CRUFI, highlighted the significance of the partnership:
"Froneri’s success and global recognition in the ice cream industry speak volumes. This agreement is a milestone for CRUFI, offering exciting opportunities for the company and our team."
Froneri, established in 2016, operates in over 20 countries, generating revenues exceeding €5 billion and employing more than 12,000 people worldwide. The acquisition of CRUFI marks the company’s entry into Uruguay, further strengthening its position in the global ice cream market.
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