Nestle to Form Holding Company for Dreyer’s

Nestle, the world’s biggest foodmaker, plans to create a holding company to complete its acquisition of Dreyer’s Grand Ice Cream Inc.

Dreyer’s publicly held stock will be exchanged for new shares in the holding company, and shareholders will be able to sell some or all their shares for $83 each, Dreyer’s said in a statement. A Dreyer’s spokeswoman declined to comment further.

Vevey, Switzerland-based Nestle, which already owns 23% of Dreyer’s, would own about 67% of the best-selling brand of packaged ice cream in the U.S. after the transaction is complete. Dreyer’s makes ice cream and frozen desserts under the Dreyer’s and Edy’s names.