Nestle Wraps up Dreyer's Acquisition
There were times when it seemed like it wasn't going to happen, but after 12 months of discussions and negotiations, most of them with Federal Trade Commission, Nestle has suceeded in pulling off its $2.8 billion purchase of Dreyer's Grand Ice Cream. By combining Dreyer's and its own Ice Cream Partners Inc., Nestl¿has created a clear leader in the U.S. ice cream market.
The two merging entities had been ready to seal the deal for some time. One day after the FTC gave it the green light, back in late June, the transaction was complete. To appease the FTC, Dreyer's has sold its Dreamery, Godiva and Whole Fruit brands to CoolBrands International, which will also receive Nestl¿ distribution assets. The FTC blocked the deal in March over concerns that the merger would hurt competition and boost prices for premium Nestle brands.