The owners of Yoplait said Friday they were in exclusive negotiations with the French yogurt maker's longtime American partner, General Mills, to sell just over a 50 percent stake in the company for about 800 million euros.
Private equity fund PAI Partners is ready to sell its 50-percent stake in the world's number two dairy company Yoplait to General Mills for 1.6 billion euros ($2.2 billion), the daily Le Figaro reported Thursday on its website."In the end it is the American General Mills that will acquire Yoplait," the French daily wrote without citing its sources.Neither Yoplait, PAI, nor Sodiaal which owns the other 50 percent in Yoplait, was immediately available for comment.
By Michael J De La Merced and Alexandra Stevenson By putting $5.5 billion into Mondelez International, a hedge fund billionaire is wagering that the company, which makes Oreos, Cadbury chocolates and Trident gum, could be prodded into selling itself. That would make it only one of many possible takeover targets in the food industry. The emergence of William A Ackman and his Pershing Square Capital Management as a major investor in Mondelez highlights the widespread belief that opportunities for deals abound in the food sector.
How long can one entrepreneur carry a packaged food company before turning to outside investment? Hamdi Ulukaya, the founder of Greek-yogurt maker Chobani and our cover profile interview in January as he collected Global Entrepreneur of the year, is about to answer that question.
[AP] - General Mills says it has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait. The binding offer with PAI Partner and Sodiaal, the owners of Yoplait S.A.S., would beat out rivals bidding for the company.