Vending

General Mills to sell European Yoplait to Sodiaal

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March 23, 2021

General Mills Inc. has agreed to sell its 51% controlling interest in Yoplait S.A.S. to Sodiaal, a French dairy cooperative, in exchange for full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in the U.S. and Canada, according to a press release.

Following completion of the transaction, Yoplait S.A.S. would operate yogurt businesses in France, the U.K., and certain other markets, and manage a network of 28 franchisees manufacturing and distributing Yoplait branded products in more than 40 countries around the world. Net sales for the Yoplait S.A.S business that would be wholly owned by Sodiaal totaled $740 million in fiscal 2020.

Under the terms of the transaction, General Mills would acquire Sodiaal's 49% ownership interest in Yoplait Canada Holding Co., making the Yoplait Canada yogurt business, which generated $290 million in net sales in fiscal 2020, a wholly owned subsidiary of General Mills. Following completion of the transaction, General Mills would wholly own yogurt operations in the U.S. and Canada that generated a combined $1.4 billion in net sales in fiscal 2020 and would distribute Yoplait and Liberté branded products in the United States and Canada on a royalty-free basis.