Froneri Lux Topco S.À R.L
Annual report Froneri Lux Topco S.à r.l. Annual report 31 December 2020 Registered office: 9, rue de Bitbourg, L - 1273 Luxembourg R.C.S. Luxembourg: B 241537 Froneri Lux Topco S.à r.l. Annual report 31 December 2020 Contents Consolidated Management report 1 Audit report 22 Consolidated Income Statement 25 Consolidated Statement of Comprehensive Income 26 Consolidated Statement of Financial Position 27 Consolidated Statement of Changes in Equity 28 Consolidated Cash Flow Statement 29 Notes 30 Froneri Lux Topco S.à r.l. Annual report Consolidated management report Overview of the business Froneri Lux Topco S.à r.l. (“Froneri” or the “Group”) is owned and controlled in equal shares between the private equity firm PAI Partners (“PAI”) and Nestlé SA, (“Nestlé”). The Froneri Group was formed on 1 October 2016, as a result of the merger of the entire activities of R&R Ice Cream plc (“R&R”) and part of the ice cream and frozen food businesses of Nestlé. On 31 January 2020, Froneri Lux Topco S.à r.l., a newly-incorporated Luxembourg-domiciled holding company, was inserted at the head of the Group and became the ultimate parent company of the Froneri group of companies. Throughout the year, Froneri has operated in Europe, Israel, Egypt, South Africa, Brazil, Argentina, Australia, New Zealand and the Philippines. In January 2020, Froneri acquired Dreyer’s Grand Ice Cream Holdings, Inc and its subsidiaries (together “Dreyer’s”), Nestlé USA’s ice cream business. In addition, Froneri acquired Nestlé’s Puerto Rico ice cream business. In December 2020, Froneri disposed of the frozen foods element of its Swiss business, retaining the core ice cream business.
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