[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.
ByFusion Research:Cereals, bakery products, dairy food, and meat accounted for 50% of the overall packaged food industry in 2012. The packaged food products market is expected to reach $2.5 trillion by 2017.
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.