News Dairy
General Mills wants to get rid of Yoplait
Food giant General Mills is considering selling its North American yogurt business, with its best-known brand Yoplait. Reuters reports that investment bank JP Morgan has been hired to oversee the sale.
General Mills' yogurt activities include not only Yoplait but also the brands Liberté and Ratio Food. Yoplait outside North America is not included in the package. This part of Yoplait has been (re)owned by the French Sodiaal since April 2021. This dairy cooperative also receives royalties for the use of the brand names Yoplait and Liberté, but since 2021 at a reduced rate. The recipient of these royalties is Sodima, the 'parent cooperative' behind Sodiaal.
Reportedly, General Mills' North American yogurt division is expected to fetch between $2 and $2.5 billion. General Mills no longer considers dairy part of its core activities. The yogurt activities of several other major food companies in the US are also up for sale or have been sold. Danone sold Wallaby Yogurt and Horizon Milk to Platinum Equity last year. Campbell Soup has Noosa Yogurt on offer.
Meanwhile, General Mills seems to see more potential in pet food. Profit margins are higher in this industry. That's why the company recently acquired the Flemish company Edgar & Cooper.
