General Mills Completes Sale of European Operations to Sodiaal
November 30, 2021
Cleary Gottlieb represented General Mills in its sale of its 51% controlling interest in Yoplait S.A.S. (Yoplait) to Sodiaal, a leading French dairy cooperative, in exchange for full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in the United States and Canada.
Following completion of the transaction on November 30, 2021, General Mills wholly owns yogurt operations in the United States and Canada that generated a combined $1.4 billion in net sales in fiscal 2020 and distributes Yoplait and Liberté branded products in the United States and Canada on a royalty-free basis.
For more information, please see the press release here.