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Article: Nestle steps up ice-cream war with Unilever by buying Dreyer's
- Article from:
- The Independent (London, England)
- Article date:
- June 18, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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THE SWISS food giant Nestle yesterday won an important strategic
victory in the global ice-cream wars, scooping up control of
America's largest ice-cream maker Dreyer's to edge Unilever out of
the number one slot in the world's biggest ice-cream market.
Nestle, which still trails Unilever in the world ice-cream
industry by about 13 per cent to 17 per cent, agreed to merge its US
ice-cream operations with Dreyer's Grand Ice Cream. The deal will
create a company with a stock market value of $4bn (pounds 2.8bn)
that will dominate the US premium ice-cream market, home to the
world's most voracious ice-cream eaters.
Nestle, which is seeking to boost sales by diversifying into
faster growing ...