General Mills Announces Proposed Sale of European Yoplait Operations to Sodiaal
Summary
MINNEAPOLIS--(BUSINESS WIRE)--General Mills (NYSE: GIS) today announced that it has entered into a memorandum of understanding to sell its 51 percent controlling interest in Yoplait S.A.S. would operate yogurt businesses in France, the United Kingdom, 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. “ With today’s announcement, we’re taking another step toward advancing our Accelerate strategy and further reshaping our portfolio to drive profitable growth for the long term,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. Additionally, it increases our focus on the brand platforms that have the greatest growth potential.” “ This transaction allows us to accelerate our Europe & Australia segment’s growth by increasing our focus on our advantaged global platforms, including Mexican food, super-premium ice cream, and snack bars,” added Dana McNabb, Group President of General Mills’ Europe & Australia segment. Its brands include Cheerios, Annies, Yoplait, Nature Valley, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, BLUE and more.