Nestle Wants Out of the Ice Cream Business - Here’s Why

One of the largest food companies in the world is set to move on from a popular dessert treat despite connections to major brands and flavors across the world.

Nestle announced that it intends to sell its remaining in-house ice cream brands to Froneri, the company that already owns Haagen-Dazs, Drumstick, Oreo, Cadbury and other major ice cream brands around the globe.

"There are times when we decide that focusing means exiting businesses," said Nestle's CEO Philipp Navratil. He added that the ice cream business is "strong...