General Mills, Nestle Team Up: Cheerios, Wheaties...

General Mills, Nestle Team Up: Cheerios, Wheaties and other cereals made by General Mills Inc. will be sold worldwide under a joint venture announced with Nestle SA, which also provides that neither giant food company will seek control of the other. Each company will own equal shares in the new joint venture, which will be based in Europe and headed by Charles W. Gaillard, senior vice president of General Mills’ International Foods division. The alliance will combine the cereal expertise of General Mills, the second-largest ready-to-eat cereal maker in North America after Kellogg Co., with Swiss-based Nestle, which is the world’s largest food company.