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Business

Nestlé Takes Over Mövenpick Ice Cream

Food and drinks giant Nestlé announced on Thursday it is buying the Swiss ice cream brand Mövenpick for an undisclosed amount. The ice cream business is a part of the Mövenpick Group, which produces jams, salmon, coffee, dairy products and operates a chain of hotels and restaurants. Mövenpick ice creams sales worldwide amount to 300 million Swiss francs ($219 million). The sale was triggered by Nestlé’s purchase last year of the Schöller company, which held Germany's license for Mövenpick in Germany -- the ice cream brand's single biggest market.