Nestlé to buy Haagen-Dazs

- Last updated on GMT

Related tags: Ice cream, Nestlé, Nestle sa

Nestle SA, the Swiss foodmaker, announced this week that it is in
talks to buy the50 per cent stake that it does not own in an
ice-cream joint venture...

Nestle SA, the Swiss foodmaker, announced this week that it is in talks to buy the50 per cent stake that it does not own in an ice-cream joint venture with Haagen-Dazs. Nestle has the right to buy out its partner in Ice Cream Partners USA after a change of ownership. Haagen-Dazs is owned by Pillsbury, which Diageo Plc is selling to General Mills Inc. The Swiss company and Haagen-Dazs merged their U.S. ice-cream businesses last year to become No. 3 in the market, with 1998 sales of $600 million. Nestle is trying to catch up with the world leader in ice cream, Unilever, the Dutch-British company that bought Ben & Jerry's Homemade Inc. earlier this year. The remaining half of the venture is valued at about $650 million before taxes by analysts at Prudential Securities. Source: Bloomberg News

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