General Mills finalizes divestiture of EU Yoplait business

MINneapolis — General Mills, Inc. has completed the sale of its 51% controlling interest in Yoplait SAS to French dairy cooperative Sodiaal in exchange for full ownership of Yoplait’s Canadian business and a reduced royalty rate for the use of the Yoplait and Liberte brands in the United States and Canada.

“With this divestiture, General Mills is continuing to advance its Accelerate strategy, which includes clear priorities on where to play — across geographies as well as platforms and brands — to drive long-term, superior shareholder returns,” General Mills said.

Yoplait SAS generated $740 million in fiscal 2020, according to General Mills. The business includes assets in France, the United Kingdom and certain other markets.

The Yoplait Canada yogurt business generated $290 million in net sales in fiscal 2020, according to General Mills.

With the completion of the transaction, General Mills wholly owns yogurt operations in the United States and Canada that generated a combined $1.4 billion in net sales in fiscal 2020.

For Sodiaal, the acquisition is the next step in its value creation strategy. Yoplait’s European business portfolio includes such brands as Perle de Lait, Panier de Yoplait, Yop, Petits Filous and Câlin, Liberté, according to the company.

Source link


Privatising the utility is not the answer – Mabuza on Eskom

Deputy President David Mabuza told Parliament that privatising embattled...

Q&A: Christine Sinclair on the state of Canadian soccer and the fight against MS

Maybe it was sparked by the Serena Williams farewell...

WHO recommends second COVID-19 booster for highest-risk groups 

The World Health Organization’s immunization advisory group Thursday recommended a second COVID-19 vaccine booster for older people, health care workers, and people at high...

Dancing with the stars: 7 world leaders’ dance moves, ranked

On a scale of 1 to 5, Finland’s prime minister is first choice for our jury to party with.  In leaked videos, the 36-year-old leader...

Estonia fends off ‘extensive’ cyberattack following Soviet monument removal

Russian patriotic hackers hit Estonia's public institutions and private companies with a cyberattack Wednesday following the country’s removal of a Soviet tank monument and...