14 May 2019

'Bad decisions' behind Fonterra selling Tip Top - Peters

From Morning Report, 7:28 am on 14 May 2019

Fans of hokey pokey and french vanilla ice cream are warning the new owners of Tip Top not to mess with the products. The global ice cream company Froneri is buying the company from Fonterra for $380 million. Froneri is a joint venture between Nestle and Pai Partners based in the UK, and is the third largest ice cream manufacturer in the world, selling brands in 20 countries. It's agreed to keep the Tip Top name, its Auckland factory and its employees. Many of the customers we spoke to are cautious about the sale Acting Prime Minister Winston Peters has criticised Fonterra for selling Tip Top calling it a "sad day" for New Zealand. He talks to Corin Dann.