General Mills is considering divesting its underperforming Yoplait yogurt business, a French financial publication is reporting.
General Mills, which bought a 51% stake in Yoplait from France’s PAI group in 2011, is seeking to unload the unit, claims an article in L’Agefi. A strong candidate is French dairy cooperative Sodiaal, which owns the remaining 49% of Yoplait.
The L’Agefi article cites “several sources” as claiming that General Mills is being advised by Morgan Stanley on a possible sale, while Sodaal is consulting Rothschild & Co. on a potential acquisition. General Mills wishes to exclude major competitors like Nestlé and Lactalis from any deal, the L’Agefi article says.
Net retail sales of Yoplait in the U.S. have dropped from a high of $1.4 billion in 2015 to $905 million in 2019.