Nestlé owns the popular brand Hagen-Dazs in the United States, which generated $1.8 billion for the company in 2018.
It is not yet clear what this will mean for Hagen-Dazs plants in Tulare and Bakersfield, which together employ thousands of workers from the Valley.
The sale is to Froneri, a joint venture set up by Nestlé in 2016 that is one of the largest ice cream companies in the world.