The Swiss food giant, Nestlé, has acquired the United States licensing rights to the up-market ice cream brand, Häagen-Dazs.This content was published on December 27, 2001 - 10:07
Nestlé is paying $641 million in cash to Häagen-Dazs' current owners, General Mills.
The Vevey-based firm is able to buy the brand because of a deal it signed in 1999 with Pillsbury to form a 50-50 joint venture combining their ice-cream brands in the US.
That deal gave Nestlé an option to buy Pillsbury's ice-cream interests if Pillsbury itself was bought, which it since has been by General Mills.
General Mills retains the international rights to the Häagen-Dazs brand, which has worldwide sales of about $1 billion annually. Analysts say it is the clear leader in the "super premium" ice cream market.
Nestlé is the world's second largest ice-cream producer, behind the Anglo-Dutch Unilever group. The two companies occupy respectively 10 and 16 per cent of the world market.
swissinfo with agencies
This article was automatically imported from our old content management system. If you see any display errors, please let us know: email@example.com