Norwegian dairy company Tine is to sell its Swedish ice cream arm Diplom-Is.

The sale, for an undisclosed sum to Swedish businessman Anders Müntzing, will be completed on 8 February, the firm announced today (5 February).

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“The decision was taken with a background in the challenging market situation for Swedish Diplom-Is. This will free up resources for the Diplom-Is, which can now concentrate fully on developing companies in Norway and Denmark,” the company said.

Diplom-Is last year went through major restructuring in a bid to enhance its competitiveness, which involved downsizing in the company.

“The new owners are well equipped to run a profitable business and to develop the company further for the benefit of the employees, customers and consumers in Sweden,” said Bjorn Moldskred, CEO of Diplom-Is.

“The sale of the Swedish business frees up resources for us to focus even more on our home and our Danish operations.”

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