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November 15, 2006

CANADA: CoolBrands sells distribution assets

CoolBrands has announced that its subsidiary, Eskimo Pie Frozen Distribution, has entered into definitive agreements to sell its ‘direct store door’ frozen distribution assets in Florida, California, Oregon and Washington to Southwest Traders for a net consideration of approximately US$5m.

CoolBrands has announced that its subsidiary, Eskimo Pie Frozen Distribution, has entered into definitive agreements to sell its ‘direct store door’ frozen distribution assets in Florida, California, Oregon and Washington to Southwest Traders for a net consideration of approximately US$5m.

The sale is expected to close on 17 November. Net proceeds will be used to reduce CoolBrands’ debt.

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