General Mills Closes Sale o
General Mills (NYSE: GIS) announced today that it has completed the sale of its controlling 51% stake in its European Yoplait operations. As part of the transaction with Sodiaal, initially announced on March 23, 2021, General Mills acquired full ownership of the Canadian company Yoplait. General Mills will also now operate with a reduced royalty rate for the use of the Yoplait and LibertÃ© brands in the United States and Canada.
With this divestiture, General Mills continues to advance its acceleration strategy, which includes clear priorities on where to play – across geographies as well as platforms and brands – to generate superior long-term returns. for shareholders.
About General Mills
General Mills makes food the world loves. The company is guided by its acceleration strategy to generate shareholder value by boldly building its brands, relentlessly innovating, liberating its size and being a force for good. Its beloved brand portfolio includes well-known brands such as Cheerios, Nature Valley, Blue Buffalo, HÃ¤agen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minnesota, United States, General Mills generated net sales of US $ 18.1 billion in fiscal 2021. In addition, the company’s share of net sales of unconsolidated joint ventures increased. amounted to US $ 1.1 billion.
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