General Mills has announced that it has acquired Brazilian yogurt maker and dairy products company Carolina for an undisclosed sum.
The company, based in the state of Paraná, is known for brands including VeryGurt, Gluck and the eponymous Carolina. It operates primarily in southern and southeastern Brazil, sourcing high-quality milk from farmers in the dairy-rich region of Paraná and marketing more than 20 different dairy product lines across the region.
Carolina employs more than 390 people in Ribeirão Claro, Paraná, and has significant regional operating, sales and distribution infrastructure.
“We are delighted to add Carolina’s strong brands and talented team to General Mills’ growing international business,” said Chris O’Leary, General Mills’ executive vice-president and chief operating officer – international. “Carolina’s strong capabilities in yogurt and dairy will accelerate General Mills’ growth in Brazil. We plan to invest and build on the strong Carolina product portfolio, leveraging our own expertise and the Carolina team to grow and expand in Brazil – a very important market for General Mills International.”
Carolina founder Maurício Araújo continued: “We are pleased to see our Carolina brands and businesses joining General Mills. As a family-owned company, it was important to us to join a company that shared Carolina’s values of ‘doing the right thing’ as we continue to grow our business. The global capabilities of General Mills will help our talented and committed Carolina employee team continue to grow our brands and businesses. We look forward to accelerating the growth of Carolina for years to come.”
General Mills president, global yogurt and ice cream Olivier Faujour added: “Brazil is a strategic market for General Mills, and yogurt is a growing category. Carolina’s quality brands and products match perfectly with General Mills’ company mission, which is to serve the world by making food people love. General Mills’ global dairy capabilities will complement and build upon Carolina’s already strong reputation for quality products and dairy ‘know-how’. It should be a perfect fit that will allow us to bring even more delight to Brazilian consumers with superior quality yogurt and dairy products.”
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