General Mills in Discussions for $2 Billion Sale of North American Yogurt Business

Latest News:

Leading consumer goods company General Mills is reportedly in advanced talks to sell its North American yogurt business for approximately $2 billion.

Potential Buyer:

The potential buyer is believed to be French dairy and food conglomerate Lactalis, known for its popular Président and Parmalat brands.

Details of the Deal:

• The transaction would include General Mills' Yoplait yogurt brand and its U.S. manufacturing facilities.
• The deal is expected to close in the latter half of 2023, subject to regulatory approvals and other closing conditions.

Reason for Sale:

General Mills has been reviewing its portfolio of businesses to focus on higher-growth areas such as pet food and snacks.

Impact on the Industry:

The sale would significantly reshape the North American yogurt market and could strengthen Lactalis' position as a leading player in the industry.

Analyst Commentary:

"This move by General Mills is a strategic decision to divest a non-core business and allocate resources to areas with greater growth potential," said industry analyst John Doe.

Historical Perspective:

General Mills acquired the Yoplait brand in 1990 and has since grown it into one of the most recognized yogurt brands in the United States.

Next Steps:

The transaction is expected to undergo further due diligence and regulatory review before completion. Stay tuned for updates on the progress of the deal.