Gli-diet is endorsed by the Israel Diabetes Association (EYAL).
Nestle (SWX: NESN), which owns a 51% controlling interest in Osem-Nestle (TASE:OSEM) and its Noga Ice Cream subsidiary, will sell the Israeli-developed Gli-diet ice cream on a stick all over Europe.
Gli-diet is an old brand, which Noga Ice Cream recently changed in its Kiryat Malachi ice cream plant. Gli-diet is made with sugar-free chocolate syrup, and has been endorsed by the Israel Diabetes Association (EYAL).
Following the sale of Tnuva’s share of Noga Ice Cream, Osem-Nestle CEO Dan Propper said Noga would show a profit this year, after its business recovered in late 2002.
Noga is expected to continue its own research to adapt products to the taste of the Israeli market. Swiss company Nestle was responsible for the development of almost all Noga’s products. Noga’s 2003 R&D spending is expected to amount to NIS 2 million.
Published by Globes [online] - www.globes.co.il - on May 20, 2003