General Mills to Sell North American Yogurt Business to French Dairy Companies for $2.1 Billion

A French dairy company will soon own General Mills' North American yogurt operations.

General Mills, a Minneapolis-based consumer foods company, has agreed to sell its North American yogurt business to French dairy companies Lactalis and Yoplait for $2.1 billion. The transaction is expected to close in the second quarter of 2023, subject to regulatory approval.

The sale includes all of General Mills' yogurt brands, including Yoplait, Oui, Liberté, and Mountain High.

The sale does not include General Mills' international yogurt operations or its plant-based yogurt brand, Kite Hill.

General Mills has been under pressure from activist investors to sell its yogurt business, which has struggled in recent years. The company has been losing market share to competitors such as Chobani and Stonyfield Farm.

The sale of the yogurt business will allow General Mills to focus on its core businesses, such as cereal, snacks, and pet food.

The sale is a major win for Lactalis and Yoplait.

Lactalis is the world's largest dairy company, and Yoplait is one of the world's leading yogurt brands.

The acquisition will give Lactalis and Yoplait a stronger foothold in the North American yogurt market.

The sale is a blow to General Mills.

Yogurt has been a key part of General Mills' portfolio for decades.

The sale of the yogurt business will leave a hole in General Mills' product lineup.