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Nestlé: Schoeller Acquisition Approved by EU Commission

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The EU Commission announced its approval of the purchase of the Schoeller Holding Group by Nestlé. Through this acquisition, Nestlé primarily strengthens its ice cream business in the strategically important German market and additionally gains access to other ice cream markets in Northern and Central Europe.

Furthermore, the purchase opens new business opportunities in the frozen food sector as well as in the area of home delivery. There is a strong complementarity between Nestlé's and Schoeller's business activities, in particular in the ice cream and the out-of-home sectors. Nestlé will now proceed with a 100 percent take-over of the Schoeller Holding Group. For the year 2002, all operational units concerned will continue to function in the same structure as before.

With the Schoeller acquisition now successfully concluded and after becoming sole owner of Ice Cream Partners USA, with the premium brand Häagen-Dazs in late December 2001, Nestlé has taken two important steps in the ice cream sector, which constitutes a strategic growth area for the Group.