Nestlé sells off U.S. ice cream business for $4 billion

FRESNO, Calif. (KFSN) -- Nestlé has sold off its U.S. ice cream business for $4 billion, the company announced on Wednesday.

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.