DGE Diageo Plc

RNS No 2455e
DIAGEO PLC
19 August 1999

  DIAGEO ANNOUNCES JOINT VENTURE IN US FOR HAAGEN-DAZS
                FROZEN DESSERTS BUSINESS
                
   Joint Venture Provides Opportunity for Significant
                   Incremental Growth
                   
Nestle USA and The Pillsbury Company today announced  the
formation of a 50/50 joint venture comprising the  Nestle
USA  novelty  ice  cream business  and  Pillsbury's  U.S.
Haagen-Dazs frozen dessert business.

The   joint   venture   will  provide   opportunity   for
significant  top-line  growth  by  combining  the  famous
Haagen-Dazs  brand name with Nestle's superior  worldwide
frozen   dessert   technology.    Both   partners   offer
complementary product lines in two distinct  segments  of
the ice cream category - Haagen-Dazs with its presence in
superpremium  pints, and Nestle with its  unique  novelty
line.

The  joint venture - temporarily named Ice Cream Partners
USA  -  includes  the merging of all the U.S.  assets  of
Haagen-Dazs  and  the assets of Nestle's  USA  Ice  Cream
Division.   The  parent companies, or  their  affiliates,
will  retain  ownership  of  the  brands  and  applicable
technology  and license them to the joint  venture.   The
joint   venture   does   not  include   either   parties'
international  operations, or the Haagen-Dazs  U.S.  shop
system.

The  agreement  is  subject to the normal  Federal  Trade
Commission / Department of Justice review process.

"Haagen-Dazs  is  the  world's  most  famous   brand   of
superpremium  ice  cream,  and  the  joint  venture  will
continue  to  build on its position in the U.S.  market,"
said Paul Walsh, Chairman and Chief Executive Officer  of
The Pillsbury Company.

Joe  Weller, Chairman and Chief Executive Officer, Nestle
USA,  commented,  "This  agreement  brings  together  two
complementary businesses with strengths in  two  distinct
segments,  superpremium packaged ice cream and novelties.
Nestle  contributes worldwide expertise in frozen dessert
technology  and a solid alternative channel  strategy  to
this joint venture."

Investor Relations enquiries:
Catherine James                    +44 (0)171 927 5272

Media enquiries:
Kathryn Partridge                  +44 (0)171 927 5225

Note to editors:

Pillsbury is the packaged food division of Diageo, one of
the world's leading consumer brand companies. Other key
Diageo brands include Pillsbury, Green Giant, Johnnie Walker
and J&B Scotch whiskies, Smirnoff vodka, Gordon's gin,
Baileys cream liqueur, Guinness stout, and Burger King.

The Diageo group operates in over 200 markets worldwide, and
has international sales of
#12 billion ($19 billion). The company is listed on the UK
(DGE), New York (DEO), and Paris Stock Exchanges. Additional
information on the Diageo group and its brands is available
at www.diageo.com

END

JVESFISWUUUUFFA

Grafico Azioni Diageo (LSE:DGE)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Diageo (LSE:DGE)
Storico
Da Lug 2023 a Lug 2024