General Mills to sell North American yogurt business in US$2.1B deal

General Mills, Inc. is selling its North American yogurt business to French dairy companies Lactalis and Sodiaal for US$2.1 billion.

The deal, expected to close in 2025, sees Sodiaal acquire the Yoplait and Liberté brands in Canada, as well as a manufacturing site in Saint-Hyacinthe, Que.

Lactalis will take over the U.S. businesses, including Go-Gurt, Oui, Mountain High and :ratio, as well as manufacturing facilities in Murfreesboro, Tennessee and Reed City, Michigan. It will also operate the Yoplait and Liberté brands in the U.S., with Sodiaal retaining exclusive ownership.

“Today’s announcement represents another significant step forward for General Mills in advancing our Accelerate strategy and our portfolio reshaping ambitions,” said General Mills chairman and CEO Jeff Harmening in a release. “Upon completion of these divestitures, we will have turned over nearly 30 percent 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.”