Swiss-headquartered Nestlé has agreed to stump-up $641 million to acquire General Mills’ 50% stake in US premium ice cream manufacturer Ice Cream Partners whose portfolio includes Haagen-Dazs. The deal gives Nestlé – which already holds 50% of ICP – total ownership of the venture within the USA.
However, Minneapolis-headquartered General Mills continues to own and operate the Haagen-Dazs brand outside North America.
Haagen-Dazs, whose heavily advertised benefits include the stimulation of body parts additional to taste buds, is part of a disposal demanded by US competition authorities earlier this year when London-based Diageo sold its Pillsbury unit to General Mills [WAMN: 07-Sep-01].
News source: Wall Street Journal