EXCLUSIVE: General Mills Talks To Benzinga About Yoplait Purchase (GIS)

General Mills

has agreed to buy a controlling 51 percent stake in French yogurt maker Yoplait SAS for approximately $1.15 billion. Negotiations began in March with the French private equity firm PAI Partners, though GISD had a head start as it has held the US license for Yoplait for 34 years. Kirstie Foster, General Mills' Director of Corporate Public Relations, told Benzinga that, “This is an important step. The consultation step is complete and a definitive agreement has been signed. Yoplait is a strong brand that we at General Mills know well. It's been built up to where it holds the number one position in the US in yoghurt. Between the two of us, we're well-positioned to keep continue to build.” In a press release, General Mills also said, “General Mills and Sodiaal have been successful business partners for decades. General Mills has licensed the Yoplait brand since 1977, and is Yoplait's largest licensee. It has grown its Yoplait business to the clear leadership position in yoghurts in the United States, one of the world's largest fresh dairy markets.” Yoplait's products are sold in 70 countries and the company dates back to 1964, when farmers in Frances came together to sell their produce nationally. One can only imagine what those same farmers would make of this deal.