Nestle USA to Buy 22% Stake in Dreyer’s Ice Cream
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Nestle USA Inc. in Glendale has agreed to purchase stock and warrants that would give it a 22% stake in Dreyer’s Grand Ice Cream Inc.
If all the warrants to purchase Dreyer’s shares are exercised, the purchase price will total $160 million.
The deal calls for Nestle to buy 3 million shares of Dreyer’s common stock for $32 each, and warrants to purchase an additional 2 million Dreyer’s shares for $32 apiece.
Nestle has also agreed to allow Oakland-based Dreyer’s to begin distributing its ice cream products early next year.
Nestle USA is a unit of Swiss food giant Nestle SA.
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