We participate in two international joint ventures. Our proportionate share of those sales was $1.3 billion in fiscal 2012.
Cereal Partners Worldwide: CPW is a 50-50 partnership with Nestlé that began in 1991. CPW markets breakfast cereals in 130 countries and accounts for 85 percent of our joint venture sales.
The partnership marries:
- the expertise of General Mills, the second-largest cereal manufacturer in North America.
- the worldwide presence of Nestlé, which also has, local market knowledge and distribution strength.
Häagen-Dazs Japan: This partnership operates our ice cream business in Japan and accounts for 15 percent of our joint venture sales.
We market premium ice cream to consumers at retail outlets and through a network of Häagen-Dazs Shops.
We also partner in international Häagen-Dazs joint ventures, the largest of which is with Suntory and Takanashi Dairy in Japan.