CNN —General Mills will sell its North American yogurt business to French dairy firms Groupe Lactalis and Sodiaal in a $2.1 billion deal, the Cheerios maker said on Thursday.
Reuters reported in April that General Mills was working with investment bank JPMorgan Chase to attract interest from potential buyers for the business, which houses brands such as Yoplait and Liberté.
The North American yogurt business contributed about $1.5 billion to General Mills’ fiscal 2024 net sales.
Bloomberg News earlier on Thursday reported that General Mills was in talks to sell the North America yogurt operations to Groupe Lactalis and Sodiaal.
In 2021, General Mills sold the European operations of Yoplait to Sodiaal.
Persons:
Mills, Lactalis, Sodiaal, Jeff Harmening, Yoplait, General Mills
Organizations:
CNN, Groupe Lactalis, Canadian, Reuters, JPMorgan Chase, Bloomberg, General, PAI Partners
Locations:
U.S, Valley , Minnesota, North America, Yoplait, Sodiaal