Finnish food group Ingman Foods has said it has entered into an agreement with Swiss food giant Nestlé to set up a 50/50 joint venture in the ice cream market in Sweden.

The new company, Svenska Glasskiosken, is to market, sell and distribute the two companies’ ice cream products across Sweden, reported the Nordic Business Report.

Svenska Glasskiosken is to be headquartered in Kristianstad, Sweden, and is expected to register turnover of around SEK200m (US$26m).

Ingman Foods, which generated domestic sales in 2001 of €235.2m (US$273.1m), makes chilled dairy products and ice cream products, as well as cheese, butter and milk powder.