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Thursday, 27 December, 2001, 13:09 GMT
Nestle absorbs Haagen-Dazs
News in brief
Nestle, the Swiss food giant, has bought out US firm General Mills to take full control over US distribution of the Haagen-Dazs luxury ice cream brand.

The Swiss firm joined with US food group Pillsbury in 1999 to form Ice Cream Partners USA, to which Pillsbury brought its US Haagen-Dazs rights.

Ice Cream Partners' sales in 2000 were about $700m.

Pillsbury was sold to General Mills by its owner, the UK's Diageo, last year. Ever since, Nestle has been in negotiations for General Mills' 50% stake.

It has now agreed to pay about $641m for a 99-year licence in the US as well as in Canada.

General Mills will continue to own and operate Haagen-Dazs elsewhere in the world.

See also:

16 Jan 01 | Business
Nestle in $10.3bn pet food buy
17 Jul 00 | Business
Diageo confirms Pillsbury sale
29 Jul 98 | The Company File
Wall's loses ice-cream war
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