Loading tweets...
US food giant General Mills has entered into an agreement to sell its North American yoghurt business to leading French dairy companies Lactalis and Sodiaal for $2.1 billion.
Lactalis will acquire the US division, while Sodiaal will acquire the Canadian division. The deal includes brands such as Yoplait, Liberte, Go-Gurt, Oui, Mountain High and Ratio, and production facilities in Murfreesboro (TN), Reed City (MI), and Saint-Hyacinthe, in Canada’s Quebec province.
Commenting on the move, General Mills chairman and chief executive officer Jeff Harmening said: “By efficiently managing our portfolio and sharpening our focus on our global platforms and local gem brands that have stronger growth prospects and more attractive margins, we will be in a better position to drive top-tier shareholder returns over the long term. In Lactalis and Sodiaal, we believe we’ve found the right homes for these businesses, with dairy-focused owners who are well equipped to drive success for our people and growth for these brands into the future”.
Lactalis Group chairman Emmanuel Besnier added: “With this acquisition, we are expanding our position in the US yogurt market. These iconic brands are a strategic fit for Lactalis that broaden the range of our consumers and allow us to become a key dairy player in the US”.
Sodiaal president Jean-Michel Javelle commented: “We are proud to have signed this agreement with General Mills to take over the activities of our Yoplait and Liberté brands in Canada. This project further confirms Yoplait’s return to the cooperative’s vision, a true national heritage brand that makes our farmers and employees proud”.
The transaction is expected to be closed in 2025, subject to customary closing conditions.
Source: General Mills / Food Business News
