graphic
graphic  
graphic
News > Deals
graphic
Haagen-Dazs scooped up
graphic December 26, 2001: 7:41 p.m. ET

Nestle buys out General Mills from joint venture that controls gourmet brand.
graphic
graphic graphic
graphic
graphic
graphic       graphic
  • Haagen-Dazs
  •  
    graphic
    NEW YORK (CNN/Money) - Nestle USA has acquired the exclusive license to dish out Haagen-Dazs ice cream in the United States and Canada.

    The company said Wednesday it agreed to acquire the 50 percent of Ice Cream Partners USA it does not already own from General Mills for $641 million. As part of the deal, it will get a 99-year license to use the Haagen-Dazs gourmet brand in the United States.

    Ice Cream Partners was formed in 1999, combining Pillsbury's Haagen-Dazs frozen desserts with Nestle's frozen novelties, such as Nestle Crunch bars.

    A provision in the joint-venture agreement enabled Nestle to buy the other 50 percent when Pillsbury was sold to General Mills for $5.9 billion.

    Nestle USA is a subsidiary of Swiss-based Nestle S.A. Shares of General Mills (GIS: Research, Estimates) rose 63 cents to $52.37 after hours. graphic

      RELATED LINKS

    Haagen-Dazs





    graphic

    Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
    Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
    graphic