General Mills has on Monday announced it has completed the sale of its US yogurt business to Lactalis.
The divestiture includes the US operations of several yogurt brands including Yoplait, Go-Gurt, Oui, Mountain High, and :ratio, as well as manufacturing facilities in Murfreesboro, Tennessee and Reed City, Michigan.
General Mills, whose portfolio of brands include Cheerios, Nature Valley, Häagen-Dazs, Betty Crocker, and Old El Paso, among others, has in September last year announced that it would sell its North American yogurt business to Lactalis and Sodiaal, two leading French dairy companies, for $2.1 billion (£1.61bn), with Lactalis acquiring the US business and Sodiaal acquiring the Canadian business.
The US yogurt business contributed approximately $1.2 billion to General Mills’ fiscal 2025 net sales of $19 billion. The company expects to use the net proceeds from the transaction for share repurchases and debt reduction.