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International: Nestle buys stake in Haagen-Dazs

International: Nestle buys stake in Haagen-Dazs

Author | NULL | Monday, Jan 01,1900 10:17 AM

International: Nestle buys stake in Haagen-Dazs

Nestle USA, Glendale, Calif., paid $641 million to buy General Mills' 50% stake in Ice Cream Partners USA, the joint venture struck in 1999 to combine Nestle's novelty ice cream business with Pillsbury's Haagen-Dazs frozen desserts.

The new agreement, which gives Nestle a 99-year license for use of the Haagen-Dazs brand in the U.S. and Canada, was triggered by General Mills' recently completed acquisition of Pillsbury.

Ice Cream Partners USA had sales of roughly $700 million in 2000, according to Nestle.

FCB, San Francisco Interpublic Group of Cos.' Foote, Cone & Belding Worldwide, San Francisco, handles advertising for Haagen-Dazs.

Nestle did not comment on whether it would shift the brand to one of its roster agencies, among them Publicis Groupe's Publicis, Dallas, and Interpublic's McCann-Erickson Worldwide.

Tags: e4m

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