General Mills said today yesterday that it has entered into a definitive agreement to purchase a controlling stake in French yoghurt maker Yoplait for EUR810m (US$1.15bn).Under the agreement with Yoplait’s current owners, private-equity group PAI Partners and French dairy co-operative Sodiaal, General Mills with acquire a 51% stake in Yoplait and a 50% stake in a related entity that holds the worldwide rights to the Yoplait brand. Sodiaal, which founded Yoplait, will hold the remaining interest... ...Read more »

General Mills is reportedly set to buy the 50% stake held in dairy business Yoplait by private-equity firm PAI Partners. According to reports in Le Figaro, The Wall Street Journal and from the Bloomberg news agency, General Mills, which has held the US licence to Yoplait since 1977, is set to emerge as the winner in what had become a fiercely competitive race to buy PAI’s half of the French firm. The reports said a deal between General Mills and PAI values Yoplait at EUR1.6bn (US$2.24bn). Citing... ...Read more »

Private-equity firm PAI Partners, which is in talks to sell its half of Yoplait, has said it wants to find the “right partner” for Sodiaal, the French dairy co-op that plans to keep its stake in the yoghurt business. PAI has received nine offers for its 50% stake in Yoplait and, while the buyout house has refused to name the identity of the bidders, reports have linked the likes of Nestle, General Mills and Lactalis to the race. There were also reports this week that claimed China’s... ...Read more »

Private-equity firm PAI Partners has reportedly received nine bids for its 50% stake in global yoghurt business Yoplait. According to a report in French newspaper Le Journal du Dimanche yesterday (6 February), Nestlé, General Mills and Lactalis are among the bidders for PAI’s stake. French cheese maker Groupe Bel, Mexican dairy processor Grupo Lala and China’s Bright Food are also each said to have submitted an offer. Three private-equity firms – Lion Capital, Axa Private Equity... ...Read more »

French yoghurt maker Yoplait, itself the subject of frenzied takeover speculation, has bought Canadian organic yogurt brand Liberté. Yoplait has acquired the business for an undisclosed sum from Liberté’s shareholders, private-equity firms Swander Pace Capital and Roynat Capital and the Canadian firm’s management team. Yoplait said Liberté would give it “the opportunity to acquire a strong market position in a new and rapidly growing market segment”. In 2009, Liberté generated... ...Read more »

US food manufacturer General Mills has reformulated its Yoplait original yoghurt to include more calcium. The product, General Mills said on Monday (13 December), now contains “two times the calcium of the leading yoghurt with 50% of the daily value in each 500mg pot”. As part of the launch, consumers can visit Yoplait’s Facebook page to sign up for a free pot of Yoplait original yoghurt. The launch will also see US television presenter Nancy O’Dell partner with Yoplait to... ...Read more »

The international market for dairy snacks, such as cheese strings and yoghurt tubes, grew by 7% in 2009 and is heading for a 6% rise this year. The first major study on this sector, by leading food and drink consultancy Zenith International, estimates total volume at 217,000 tonnes in 2010 across 26 countries in North America, Latin America, West Europe, East Europe, Africa, the Middle East and Asia Pacific. Currently, the majority of dairy snack products are cheese-based and targeted at children.... ...Read more »

The French government is reportedly mulling plans to buy a minority stake in yoghurt maker Yoplait. The state-backed investment fund FSI is considering entering the race for Yoplait, Reuters reported today (7 December). The future of Yoplait has been the subject of frenzied speculation for months after private-equity shareholder PAI Partners said it wanted to sell its 50% stake in the business. Three weeks ago, Lactalis made a EUR1.4bn (US$1.87bn) bid for the whole of Yoplait but the offer was dismissed... ...Read more »

The CEO of French dairy manufacturer Yoplait has described Nestle as its “ideal” partner, as part-owner PAI Partners looks to sell its stake in the company, according to reports. Lucien Fa, the CEO of Yoplait, told Swiss publication Le Matin Dimanche that Nestle has the “money, structures and people” and would be an “ally” to reduce the gap between it and rival Danone. He added that the company wants to “conquer” a number of major international markets... ...Read more »

French dairy group Lactalis has submitted an offer for the entire share capital of Yoplait. The yoghurt and milk dessert maker is jointly owned by private-equity firm, PAI Partners and French co-operative dairy group, Sodiaal. In Australia, Yoplait is manufactured and marketed under license to National Foods. Last week, PAI Partners’ chairman and CEO, Lionel Zinsou, said his firm’s 50% stake in Yoplait would be put up for sale “in the coming days.” However, there is uncertainty... ...Read more »