PAI's R&R Ice Cream Adds Nestlé's South African Business
March 13, 2015
PAI Partners-backed R&R Ice Cream, the world's third largest ice cream manufacturer, has acquired Nestlé's South African ice cream business. The U.K.-based R&R sells roughly €1 billion of its branded and private label products per year; it was purchased by PAI for over €900 million in 2013 and added on another former Nestlé business, Peters Food Group, last May. The acquired South African business has roughly 200 employees, owns 22,000 freezers and operates through a network of 14 distributors.