General Mills acquires Brazilian yogurt maker
General Mills announced it has acquired Brazilian yogurt manufacturer Carolina Administracao e Participacoes Societarias Ltda., a privately-held dairy products company headquartered in Ribeirao Claro, Parana, Brazil.
Established in 1969, Carolina is known throughout the southern and southeastern Brazil for its popular yogurt brands Carolina, VeryGurt and Gluck. The company markets more than 20 different dairy product lines and employs more than 390 people across the region. Terms of the transaction were not disclosed.
“We are delighted to add Carolina's strong brands and talented team to General Mills’ growing international business,” says Chris O'Leary, General Mills’ executive vice president and COO—International. “Carolina's strong capabilities in yogurt and dairy will accelerate General Mills’ growth in Brazil. We plan to invest and build on the strong Carolina product portfolio, leveraging our own expertise and the Carolina team to grow and expand in Brazil—a very important market for General Mills International.”
As one of the biggest economies it the world, General Mills called Brazil an attractive and strategic market with yogurt a strong category that is growing in the country. General Mills continues to invest in Brazil, an important market for General Mills International. The addition of Yoki Alimentos in 2012 more than doubled General Mills’ annual sales in Latin America. Its 2011 acquisition of Yoplait International also greatly expanded General Mills’ yogurt portfolio, a business it has continued to expand with the recent entry of Yoplait into China.