Nestlé Dreyer’s deal gets go-ahead

USA/SWITZERLAND – The Federal Trade Commission (FTC) has cleared Nestle’s takeover of the Dreyer’s ice cream business after months of investigation.

Nestle and Dreyer’s are now keen to move fast on the deal, and it is expected to complete by close of play Friday (27 June). Under the deal, a new company will be created, which Nestle will hold a 67% stake in.

The FTC has said that for the deal to go ahead Dreyer’s must sell its Dreamery and Whole Fruit Sorbet brands and assign its licence for the Godiva brad to CoolBrands International. Also, Dreyer’s will axe its venture with Masterfoods by December and Unilever has the right to end a distribution deal for its Ben and Jerry’s ice cream at the end of the year.