Lactalis and Sodiaal to acquire North American Yogurt business of General Mills for $2.1bn.

Lactalis, a French multinational dairy products corporation, and Sodiaal, a French dairy cooperative, agreed to acquire North American Yogurt business of General Mills, an American multinational manufacturer and marketer of branded processed consumer foods, for $2.1bn. “Today’s announcement represents another significant step forward for General Mills in advancing our Accelerate strategy and our portfolio reshaping ambitions. Upon completion of these divestitures, we will have turned over nearly 30 percent of our net sales base since fiscal 2018. By efficiently managing our portfolio and sharpening our focus on our global platforms and local gem brands that have stronger growth prospects and more attractive margins, we will be in a better position to drive top-tier shareholder returns over the long term,” Jeff Harmening, General Mills Chairman and CEO.