Pacific Equity Scoops Up Nestle Australia Ice Cream Biz

Law360, Chicago (June 29, 2012, 3:04 PM EDT) -- Nestle Australia Ltd. will sell its Peters Ice Cream business and a long-term Nestle ice cream marketing license to funds advised by Sydney-based Pacific Equity Partners for an undisclosed price, the food products giant said Friday.

Nestle said that the private equity firm — which invests in companies valued at AU$300 million (US$307 million) or more — will scoop up the Peters Ice Cream brand and a related factory along with subbrands Light & Creamy, Original, Frosty Fruits, Billabong and Monaco Bar. Pacific Equity will also...
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