Eskimo Pie reports buyout bid from undisclosed private investor

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Ice cream novelty marketer Eskimo Pie Corp., Richmond, Va., said it received an offer valued at about $35 million for its outstanding shares from an undisclosed private investor. The investor has invited President-CEO David Kewer to continue to work with Eskimo Pie after the sale. The company said its board and a special committee were considering the offer. Eskimo Pie markets ice cream and sorbet novelties under the Eskimo Pie, Real Fruit, Welch's, Weight Watchers Smart Ones, SnackWell's and Oreos brand names. Last week, Nestle USA said it would combine its ice cream novelty brands with Pillsbury Co.'s Haagen-Dazs to form a joint venture, Ice Cream Partners USA.

Copyright August 1999, Crain Communications Inc.

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