Frosty Boy
Our investment in Frosty Boy
An Australian manufacturer of dairy ingredients, Frosty Boy produces tasty soft serve ice cream, frozen yoghurt and beverage powders for use in fast food chains and the food service industry. You’ll find Frosty Boy products in KFC, Godiva chocolate, Burger King, Pizza Hut and Wendy’s.
The Opportunity
We have been active investors in the consumer segment, with an investment thesis that companies can win in the competitive space by offering an attractive value proposition and a differentiated R&D capability. Frosty Boy had demonstrated an ability to execute very successfully in these two critical areas. The company had begun establishing and building relationships in low penetration markets with high growth potential, and were looking for a partner to help them navigate through its next phase of growth. During our investment process, we developed a strong relationship with the management team and were very aligned in our vision of how to take Frosty Boy to its next level. Advent’s investment enabled the founders to sell-down a majority stake to de-risk, while gaining support in accelerating the business’ growth into global markets.
How We Help
Our investment in Frosty Boy has enabled the company to embark on its global expansion plans – particularly in emerging markets like parts of Asia Pacific, the Middle East and Latin America. Frosty Boy now operates in 65 countries and since Advent’s investment has built global sales, R&D and manufacturing capabilities.Â
Investment Information
FUND: Advent Partners 1
DEAL TYPE: Growth
SECTOR: Consumer
INV. DATE: December 2016
INV. TEAM: Symon Vegter, Robert Radcliffe-Smith, Rob Hooke
