[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.
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.
By Chris Katje: Wednesday morning saw cereal and snack foods company General Mills (GIS) release full-year and fourth-quarter earnings. The company also provided an outlook for its 2013 fiscal sales. Listed below are some of the highlights from the earnings call.
General Mills see a drop in its third-quarter sales volume as Greek yogurt brands such as Chobani and Fage grew by leaps and bounds, hurting demand for the firm's Yoplait.The growing popularity of Greek yogurt is putting a damper on General Mills Inc.'s Yoplait brand, helping to push the company's third-quarter sales volume down in the U.S.