Drammens Is was founded in 1937. On 4 June 1997, a car bomb had exploded outside a Bandidos clubhouse in Drammen as a part of the Great Nordic Biker War. The Drammen factory was completely destroyed after a fire due to the bombing. Just afterwards the company was bought by Nestlé who took over the rights to the brands, and made an agreement with Diplom-Is, a Norwegian ice cream manufacturer regarding production and distribution of Drammens Is products.
Among the brands made by Drammens Is were Gullkrone, Kjempe-Yes, Hip, Hawaii, Mr. Yankee, Break, Luksuspinne, Kjempe-Nuggi, Sjokoladepinne, Banansplit, Twin, Kokosboller and På Minuttet. After large economic losses on the Norwegian ice cream market, Nestlé closed down its Norwegian ice cream division in 2005. At the same time Diplom-Is AS took over the marketing and distribution of Nestlé's international ice cream brands in Norway while the former Drammens Is brands disappeared from the marketplace.