Nestle USA, Pillsbury Announce Joint Venture

Nestle USA, Glendale, and the Pillsbury Co., Minneapolis, Minn., announced an agreement to form a joint venture of the Nestle USA novelty ice cream business and Pillsbury’s U.S. Haagen-Dazs frozen dessert business. All U.S. assets of Haagen-Dazs will be merged with the assets of Nestle’s USA Ice Cream Division. The parent companies will retain ownership of the brands and applicable technology.

The deal excludes either party’s international operations or the Haagen-Dazs U.S. shop system.

Nestle makes food and beverage products for consumer markets worldwide. The company is part of Swiss-based Nestle S.A., the world’s largest food company with sales of $52 billion.

The Pillsbury Co. is a subsidiary of Diageo, one of the world’s leading consumer brand companies with international sales of $20 billion.