General Mills (GIS.N) plans to purchase a controlling stake in French yogurt maker Yoplait for 810 million euros ($1.15 billion), securing its U.S. distribution rights to one of the best selling global yogurt brands. General Mills, which has held U.S. distribution rights to Yoplait since 1977, entered into exclusive talks two months ago with private equity fund PAI Partners and French dairy cooperative Sodiaal. General Mills said on Wednesday it will buy 51 percent of the company that runs Yoplait's operations and 50 percent of the entity the holds the licensing rights to Yoplait, the world's second-largest yogurt brand after Danone (DANO.PA). Sodiaal will hold the remaining stakes in both entities. General Mills expects the deal, which is subject to regulatory approval, to close in the quarter that begins at the end of May.
General Mills, Inc. (General Mills) is a global manufacturer and marketer of consumer foods sold through retail stores. Shares of GIS fell by 0.08% or $-0.03/share to $39.84. In the past year, the shares have traded as low as $33.11 and as high as $39.90. On average, 4064630 shares of GIS exchange hands on a given day and today's volume is recorded at 467073.
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