Minneapolis-based General Mills disclosed in a filing with the U.S. Securities and Exchange Commission that the purchase price was 1.75 billion reais ($840.5 million), plus the assumption of R$200 million in outstanding debt, for a total consideration of R$1.95 billion.

The food conglomerate, also famous for brands such as Cheerios, Pillsbury, Green Giant and Yoplait, said it expects the transaction to close within the six months following the first day of its fiscal year, which is May 28.

Yoki, founded in 1960, is based in São Bernardo do Campo, Brazil. Its brand portfolio includes Yoki and Kitano. The company sells popcorn and nuts in the snack food category as well as dry soups, grains, beans and seasonings. It also markets Yokitos, a children's snack food brand, and Lin Tea.

In 2011, Yoki had sales of R$1.1 billion, the announcement said. The acquisition of Yoki will more than double General Mills' revenue in Latin America to nearly $1 billion.

Yoki has more than 5,000 employees and multiple manufacturing plants or food processing facilities as well as national retail distribution.

"We plan to focus on building the strong Yoki and Kitano product portfolio, expanding our current Häagen-Dazs and Nature Valley businesses in Brazil, and introducing additional General Mills brands in this important market over time," said Chris O'Leary, General Mills' executive vice president and chief operating officer for its international business, in a statement.

General Mills declined to comment if Yoki could serve as a platform for additional acquisitions in Brazil such as Alca Foods Ltda.'s cereal business or the snack food business Graticia Alimentos SA, both of which have previously said they could consider a sale.

For fiscal 2012, General Mills' international sales are expected to be more than $4 billion, a figure that includes the Yoplait SAS international yogurt business it acquired July 1, 2011, the company said.

The deal marks General Mills' largest acquisition since it scooped up a 51% stake in Yoplait for €810 million ($1.15 billion), in a deal announced May 18, 2011.

Sodiaal SA, a French cooperative, continues to hold a 49% stake in Yoplait. General Mills acquired its stake from private equity firm PAI Partners.