Business Wire | Nov 30, 2021 08:00AM EST

General Mills Completes Sale of European Yoplait Operations

Nov. 30, 2021

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 30, 2021--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 Libert 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, Hagen-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.

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