Nestle has remained tight-lipped over reports that the company is preparing to sell its Australian ice cream business. 

According to local reports, the world’s largest food maker has appointed JP Morgan to advise it over the sale of Nestle Peters, with is expected to raise in the region of A$330m (US$343.2m). 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The unit owns various brands, including Drumstick, Monaco Bar, Connoisseur, Frosty Fruits, Heaven and Skinny Cow. In 2011, Nestle Peters booked earnings of almost A$25m. 

A spokesperson for Nestle Australia told just-food the company does not comment on market rumours “as a matter of principle”.  

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now