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.
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