General Mills, which has held the American distribution rights to Yoplait since 1977, entered into exclusive talks two months ago with the private equity fund PAI Partners and the French dairy cooperative Sodiaal.
General Mills said on Wednesday that it would buy 51 percent of the company that runs Yoplait’s operations and 50 percent of the entity that holds the licensing rights to Yoplait, the world’s second-largest yogurt brand after Danone. Sodiaal will hold the remaining stakes in both entities.
General Mills expects the deal, which is subject to regulatory approval, to close in the quarter that begins at the end of May.
General Mills and Yoplait will also end an arbitration case over the American license, and General Mills will continue to market Yoplait yogurt under that license.
The deal follows months of tense and highly political negotiations involving members of the French government and the influential agricultural lobby, concerned about the loss of jobs in France.
The deal has received antitrust approval in the United States, the Federal Trade Commission said.
Article source: http://feeds.nytimes.com/click.phdo?i=574914a6db068e01d02982c3cbcc4306
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