General Mills in Talks for $2 Billion Sale of North America Yogurt Business

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General Mills Inc. is in advanced talks to sell its North American yogurt business for more than $2 billion, according to people with knowledge of the matter.

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The New York-listed firm will sell its US and Canadian operations to French dairy companies Groupe Lactalis and Sodiaal, respectively, according to a statement on Thursday that confirmed an earlier Bloomberg News report. General Mills sold the European Yoplait operations to Sodiaal in 2021 in exchange for the Canadian business and lower royalty rates for the Yoplait and Liberte brands in the US and Canada. The company’s US retail yogurt business alone generated $1.4 billion in sales in the 12 months to May 19, Bartashus and Lawal wrote in their note. Yoplait accounted for 87% of that, they said.

 

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