PARIS — General Mills now has a 51% stake in Yoplait S.A.S. and a 50% interest in a related entity that holds the worldwide Yoplait brands, the company announced Friday.
General Mills acquired the ownership stakes from Europe-based private equity firm PAI Partners and Sodiaal, the largest dairy cooperative in France, for about $1.2 billion. With this transaction, Yoplait will be governed by a supervisory board with representation from General Mills and Sodiaal, as the remaining ownership stakes in both entities will continue to be held by Sodiaal.
General Mills has licensed the Yoplait brand from Yoplait since 1977 and operates the Yoplait business in the United States.
“Yoplait is a fantastic global brand with tremendous potential,” General Mills chairman and CEO Ken Powell said. “General Mills and Sodiaal are well-positioned to advance and grow the Yoplait brand around the world. It is an exciting combination.”