General Mills Buys Yoplait Stake For $1.15 Billion

General Mills GIS announced today that it had acquired a controlling stake in yogurt maker Yoplait for $1.15 billion. The company is buying a 51% stake in Yoplait and a 50% stake in the entity that controls the Yoplait brand from a French private-equity firm. French dairy cooperative Sodiaal is retaining the remaining stakes in both. General Mills plans to build out the Yoplait brand in emerging economies. According to sources close to the deal, Nestle SA was also interested in Yoplait before being bested by General Mills.