ON THE GRILL
At press time, Burger King parent Diageo, London, was in the final stages of considering bids for the chain's sale. The short list of offers reportedly featured three private equity firms (including Texas Pacific Group, which boasts BK chairman John Dasburg as a member) and Arby's owner Triarc Companies. Burger King has been on the block since March.
SCOOPS FOR NESTLE
Nestlé SA, Vevey, Switzerland, boosted its stake in Oakland, CA-based Dreyer's Grand Ice Cream from 23 percent to 67 percent as part of a $2.4 billion deal that will eventually lead to full ownership. The deal puts Nestle on a level playing field in the ice cream category with primary rival Unilever, which owns the Ben & Jerry's, Good Humor, and Breyers brands. Dreyer's will remain based in Oakland led by ceo T. Gary Rogers.
COOL RUNNINGS
CoolBrands International, Markham, Ontario, purchased Norwalk, CA-based Fruit-A-Freez, Inc., a manufacturer of frozen fruit bars. The deal includes the company's distribution system, which works with supermarket chains, club stores, independent grocers, convenience stores, and independent distributors.
LAST CLICK
L90, Inc., Los Angeles, a specialist in direct and online marketing, bought the New York City-based North American operations of struggling online marketer DoubleClick. L90 will establish a new company called MaxWorldwide and shift its headquarters to Manhattan.
SWEATY STUFF
Action Performance Cos., Phoenix, a specialist in licensed motorsports merchandise, bought San Diego-based McArthur Towel and Sports for $4.6 million. A 117-year-old marketer of licensed sports towels and golf products, McArthur will manufacture specialty products using Action's NASCAR licenses.
