NESTLE SCOOPS AULT'S ICE CREAM BUSINESS
By Adnews Staff
Toronto-based Ault Foods is selling its ice cream and frozen yogurt business to Nestlé Canada for $221 million. Ault is selling the division because its not making any money. Nestlé is buying the business because it wants to become a major competitor in the ice cream and frozen yogurt market. Ault makes ice cream brands such as Meadowgold and J. Higby's, plus licences brands such as Sealtest Parlour and Haagen-Dazs. The sale includes a plant in London, Ont, and several warehouses and distribution centres in Canada. Advertising for Ault is done by Holmes, Donin & Alloul of Toronto. FCB Canada of Toronto handles Canadian advertising for Nestlé. Nestlé is the Canadian subsidiary of Nestlé SA of Switzerland.
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