General Mills to Sell Yogurt Business for $2.1 BillionGeneral Mills to Sell Yogurt Business for $2.1 Billion
Two dairy companies have signed agreements to purchase the popular brands including Yoplait and Go-Gurt.
September 13, 2024

General Mills has entered into definitive agreements to sell its North American Yogurt business to Lactalis and Sodiaal, two leading French dairy companies, in cash transactions valued at an aggregate $2.1 billion USD.
Following the completion of the transactions, the US and Canadian businesses will operate independently, with Lactalis acquiring the US business and Sodiaal acquiring the Canadian business.
The divestitures encompass the U.S. and Canada operations of several yogurt brands including Yoplait, Liberté, Go-Gurt, Oui, Mountain High, and :ratio, as well as manufacturing facilities in Murfreesboro, TN., Reed City, MI, and Saint-Hyacinthe, Québec, CAN. The North American Yogurt business contributed approximately $1.5 billion USD to General Mills’ fiscal 2024 net sales.
Why Sell?
General Mills Chairman and CEO Jeff Harmening said that the CPG giant is looking toward advancing its Accelerate strategy and portfolio reshaping ambitions.
“Upon completion of these divestitures, we will have turned over nearly 30% of our net sales base since fiscal 2018. By efficiently managing our portfolio and sharpening our focus on our global platforms and local gem brands that have stronger growth prospects and more attractive margins, we will be in a better position to drive top-tier shareholder returns over the long term,” he explained.
General Mills anticipates the combined transactions will be approximately 3% dilutive to adjusted earnings per share in the first 12 months after the close, excluding transaction costs and other one-time impacts. The company expects to use the net proceeds from the transactions for share repurchases.
The transactions are expected to close in calendar 2025.
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