October 6, 2000
TORONTO--(BUSINESS WIRE)--Oct. 6, 2000--CoolBrands International,
Inc. (formerly Yogen Fruz World-Wide, Incorporated)
(TSE:COB.)(TSE:YF.A) and Eskimo Pie Corporation announced today that
the closing of the previously announced merger took place today.
The merger agreement was signed on May 3, 2000 and approved by
Eskimo Pie shareholders at its September 6, 2000 Special Meeting of
Shareholders. Eskimo Pie Corporation is now wholly-owned by
Under the merger agreement, Eskimo Pie Corporation shareholders
will receive $10.25 cash for each Eskimo Pie share. Instructions for
submitting share certificates for payment will be mailed to Eskimo Pie
shareholders within three business days.
CoolBrands International, Inc. markets a broad range of frozen
novelties and frozen dessert products under the Tropicana, Betty
Crocker, Trix, Yoplait, Colombo, Lucky Charms, and Yoo Hoo brand
names, pursuant to long-term licensing agreements. In addition,
CoolBrands franchises and licenses outlets operated under a Family of
Brands including Yogen Fruz, I Can't Believe It's Yogurt, Bresler's
Ice Cream and Premium Frozen Yogurt, Swensen's Ice Cream, Golden
Swirl, Paradise, Ice Cream Churn, and Java Coast Fine Coffees, with
company-owned, franchised and non-traditional partnership locations in
82 countries as of May 31, 2000.
Eskimo Pie Corporation, headquartered in Richmond, Virginia,
created the frozen novelty industry in 1921 with the invention of the
Eskimo Pie ice cream bar. Today, the Company markets a broad range of
frozen novelties, ice cream and sorbet products under the Eskimo Pie,
Real Fruit, Welch's, Weight Watchers, Smart Ones, Snackwell's and OREO
brand names. These nationally branded products are generally
manufactured by a select group of licensed dairies who purchase the
necessary flavors, ingredients and packaging directly from the
Company. Eskimo Pie Foodservice is a leading supplier of premium soft
serve ice cream, frozen yogurt, custard and smoothies to the
foodservice industry. The Company also sells a full line of quality
flavors and ingredients for use in private label dairy products in
addition to the brands it licenses.
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