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CoolBrands ices Nestl, Dreyer's asset deal

The Federal Trade Commission (FTC) has approved CoolBrands International Inc as purchaser from Nestlé of substantially all Häagen-Dazs frozen dessert distribution assets in the United States. CoolBrands also will acquire from Dreyer's Grand Ice Cream Inc the Dreamery and Whole Fruit sorbet brands, as well as the right to the license for the Godiva ice cream brand, which is being assigned by Dreyer's.

CoolBrands will pay in cash about $13.5 million Canadian for the brands and distribution assets.

As a result of this transaction, the company is forming Eskimo Pie Frozen Distribution Inc, a wholly owned subsidiary that will own and operate the frozen dessert distribution system CoolBrands is acquiring from Nestlé.

CoolBrands also appointed J Leo Glynn as president of Eskimo Pie Frozen Distribution. Glynn joins CoolBrands after having spent the past 25 years in sales and general management positions with distribution companies in the ice cream and baking industries.

TAGS: Foodservice
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