General Mills has completed the sale of its Canadian yogurt business to Sodiaal and has been cleared to sell its U.S. yogurt business to Lactalis, subject to customary closing conditions.

The company announced in September 2024 its plans to divest its North American yogurt for an aggregate $2.1 billion.

The divestitures encompass the U.S. and Canada operations of brands including Yoplait, Liberté, Go-Gurt, Oui, Mountain High and :ratio, as well as manufacturing facilities in Murfreesboro, Tenn., Reed City, Mich., and Saint-Hyacinthe, Québec. 

Collectively, the North American yogurt business contributed approximately $1.5 billion to General Mills’ fiscal 2024 net sales.

“Today’s announcement represents another significant step forward for General Mills in advancing our Accelerate strategy and our portfolio reshaping ambitions,” said General Mills Chairman and Chief Executive Officer Jeff Harmening on Sept. 12. “Upon completion of these divestitures, we will have turned over nearly 30 percent of our net sales base since fiscal 2018. By efficiently managing our portfolio and sharpening our focus on our global platforms and local gem brands that have stronger growth prospects and more attractive margins, we will be in a better position to drive top-tier shareholder returns over the long term.”

“We would also like to take this time to thank our North American yogurt team members for their significant contributions,” Harmening continued. “In Lactalis and Sodiaal, we believe we’ve found the right homes for these businesses, with dairy-focused owners who are well equipped to drive success for our people and growth for these brands into the future.”

Sodiaal acquired Yoplait’s operations in Europe and the brands Yoplait and Liberté worldwide in 2021. The transaction will lead to the termination of the Yoplait and Liberté brand licensing agreement with General Mills and the establishment of a new licensing agreement for these brands in the U.S. with Lactalis. The Yoplait and Liberté brands will remain under the exclusive ownership of Sodiaal worldwide.

"We are proud to have signed this agreement with General Mills to take over the activities of our Yoplait and Liberté brands in Canada,” said Jean-Michel Javelle, president of Sodiaal, on Sept. 12. “This project further confirms Yoplait's return to the cooperative's vision, a true national heritage brand that makes our farmers and employees proud. This acquisition strengthens our presence around the world and further promotes our French dairy expertise, which is appreciated across the Atlantic.”