U.S. Cereal Makers to Buy British Company
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<i> Associated Press</i>
GOLDEN VALLEY, Minn. — General Mills Inc. and Nestle SA announced an agreement to buy a British cereal company for about $168 million through their joint venture, Cereal Partners Worldwide.
A partnership between the two companies, to be called Cereal Partners UK, has agreed to buy London-based RHM Breakfast Cereals, a division of Ranks Hovis McDougall PLC.
The purchase has been approved by the RHM board of directors and the transaction is expected to be completed on or before Aug. 17.
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