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General Mills signs agreements to acquire Yoplait interests
General Mills has signed definitive agreements with PAI partners and Sodiaal to acquire a 51% controlling interest in Yoplait S.A.S. and a 50% interest in a related entity that holds the worldwide Yoplait brands for approximately €810m.
Sodiaal, a leading French dairy cooperative, will hold the remaining ownership stakes in both entities. Headquartered in Boulogne-Billancourt, France, Yoplait is the second largest brand in the global yogurt market, a category with 2010 retail sales totalling approximately US$65bn.
Completion of the transaction is subject to regulatory approval. General Mills currently expects the transaction to close during the first quarter of its 2012 fiscal year, which will begin on 30 May 2011.
Source: General Mills
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