General Mills completes Yoplait acquisition
July 1, 2011
PARIS — General Mills, Inc. has completed its acquisition of Yoplait for about $1.2 billion. Specifically, it is an acquisition from PAI Partners and Sodiaal of 51% controlling interest in Yoplait S.A.S. and a 50% interest in a related entity that holds the worldwide Yoplait brands.
Sodiaal will continue to hold the remaining interest in both entities.
“Yoplait is a brand we know well, and yogurt is a global category in which General Mills has been very successful in the United States,” said Chris O’Leary, executive vice-president and chief operating officer for international operations. “With operations in more than 100 markets, General Mills is in a strong position to leverage its global assets and infrastructure to grow Yoplait around the world. The strength of the Yoplait brand, combined with our category knowledge and innovation capabilities, puts us in a position to be a leader in the global yogurt category. We are excited to continue our partnership with Sodiaal and to work with the talented team operating the Yoplait business.”
General Mills has licensed the Yoplait brand from Yoplait since 1977 and operates the Yoplait business in the United States.
“This agreement builds upon the long and very successful relationship between Yoplait, General Mills and Sodiaal,” said Francois Iches, Sodiaal chairman. “Sodiaal and General Mills are focused on continuing to grow and expand Yoplait as a strong, global brand. We welcome this opportunity to build on our partnership to bring Yoplait to new consumers all around the world.”