Froneri, an ice cream manufacturer, agreed to acquire Tip Top Icecream Company from Fonterra for $380m. Froneri has confirmed that the Tip Top business will continue to be led by the existing management team. "We have always admired Tip Top, which is an iconic brand in New Zealand with a long proud history and we are looking forward to welcoming the team into Froneri," Ibrahim Najafi, Froneri CEO.