General Mills to exit the yogurt business, selling Yoplait and other popular brands

Sept. 13, 2024

General Mills Inc. will sell its North American Yogurt business to Lactalis and Sodiaal, two French dairy companies, in cash transactions valued at an aggregate value of $2.1 billion.

Related To: General Mills Inc.

General Mills Inc. will sell its North American Yogurt business to Lactalis and Sodiaal, two French dairy companies, in cash transactions valued at an aggregate value of $2.1 billion.

The sale includes all U.S. and Canada operations of several yogurt brands, including Yoplait, Go-Gurt, Oui, Liberté, Mountain High and :ratio, as well as manufacturing facilities in Murfreesboro, Tenn., Reed City, Mich., and Saint-Hyacinthe, Québec. Collectively, General Mill’s North American yogurt business contributed approximately $1.5 billion to General Mills’ fiscal 2024 net sales.

Once the sale is complete, the U.S. and Canadian businesses will operate independently, with Lactalis acquiring the U.S. business and Sodiaal acquiring the Canadian business. The proposed transactions are expected to close in 2025.

General Mills

The move is part of a larger portfolio reshaping strategy General Mills is undertaking, said Jeff Harmening, the chairman and CEO of the company, in a statement. Since 2018, he said, the company has turned over nearly 30% of its net sales base in moves to focus on “global platforms and local gem brands that have stronger growth prospects and more attractive margins.”