Nestle, the world's biggest foodmaker, has paid $US641 million ($1.5 billion) to General Mills for the other half of a venture that sells Haagen-Dazs ice cream in the United States.
The venture, called Ice Cream Partners USA and formed in August 1999, combined the Pillsbury frozen deserts business of Diageo with Nestle's ice cream division.
General Mills acquired Pillsbury this year. The venture had sales of about $US700 million last year.
Ice Cream Partners chief executive officer James Dintaman will continue as chief executive of the San Ramon, California-based venture.
General Mills will continue to sell Haagen-Dazs ice cream outside the US and Canada.
Nestle buys out partner
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