08.25.11
Minneapolis, MN-based General Mills has completed its acquisition of a 51% controlling interest in Yoplait S.A.S., and a 50% interest in a related entity that holds the worldwide Yoplait brands, from PAI Partners and Sodiaal in a transaction valued at approximately $1.2 billion. The remaining ownership stakes in both entities will continue to be held by Sodiaal, France’s leading dairy cooperative. Headquartered in Boulogne-Billancourt, France, Yoplait is the second-largest brand in the global yogurt market. The business will be governed by a supervisory board with representation from General Mills and Sodiaal. Chris O’Leary, General Mills’ executive vice president and COO, International, will have management oversight responsibility for General Mills, with Lucien Fa continuing as Yoplait’s executive chairman.