Swiss food giant Nestlé has completed its US$2.5bn takeover of US ice cream firm Dreyer’s Grand Ice Cream.
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Nestlé now owns around 67% of the stock of Dreyer’s Holdings, a new public company that holds the US frozen dessert business of both Dreyer’s and Nestlé.
Alberto Romaneschi is to become chief financial officer at Dreyer’s Holdings, while Timothy Kahn, former chief financial officer of Dreyer’s, is to be chief operating officer and will also be in charge of integration, reported Reuters.
In order to gain regulatory approval for the takeover, Nestlé agreed to divest the Dreamery, Godiva and Whole Fruit brands as well as some distribution assets.
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