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General Mills Completes Sale of European Yoplait Operations
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
General Mills has finalized the sale of its 51% controlling interest in European Yoplait operations to Sodiaal, a move initially announced on March 23, 2021. In conjunction with this transaction, General Mills has gained full ownership of the Canadian Yoplait business and will now benefit from a lower royalty rate for the Yoplait and Liberté brands in the U.S. and Canada. This divestiture aligns with General Mills' Accelerate strategy aimed at enhancing shareholder returns through focused brand management and innovation.
Positive
Acquired full ownership of the Canadian Yoplait business.
Reduced royalty rate for Yoplait and Liberté brands in the U.S. and Canada.
Negative
None.
MINNEAPOLIS--(BUSINESS WIRE)--
General Mills (NYSE: GIS) today announced that it has completed the sale of its 51 percent controlling interest in its European Yoplait operations. As part of the transaction with Sodiaal, which was initially announced on March 23, 2021, General Mills acquired full ownership of the Canadian Yoplait business. General Mills will also now operate with a reduced royalty rate for use of the Yoplait and Liberté brands in the United States and Canada.
With this divestiture, General Mills is continuing to advance its Accelerate strategy, which includes clear priorities on where to play – across geographies as well as platforms and brands – to drive long-term, superior shareholder returns.
About General Mills
General Mills makes food the world loves. The company is guided by its Accelerate strategy to drive shareholder value by boldly building its brands, relentlessly innovating, unleashing its scale and being a force for good. Its portfolio of beloved brands includes household names such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2021 net sales of U.S.$18.1 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S.$1.1 billion.
(Investors) Jeff Siemon: +1-763-764-2301
(Media) Kelsey Roemhildt: +1-763-764-6364
Source: General Mills
FAQ
What did General Mills announce regarding Yoplait on March 23, 2021?
General Mills announced the sale of its 51% controlling interest in European Yoplait operations to Sodiaal.
How does the Yoplait transaction affect General Mills's operations?
General Mills gains full ownership of the Canadian Yoplait business and reduced royalty rates for the Yoplait and Liberté brands in the U.S. and Canada.
What is General Mills's Accelerate strategy?
The Accelerate strategy focuses on priorities across geographies and brands to drive long-term shareholder returns.
What impact does the Yoplait divestiture have on General Mills shareholders?
The divestiture is aimed at enhancing shareholder returns through streamlined operations and focused brand management.
