Sodiaal to acquire Yoplait and Liberté brand operations in Canada

PARIS — Following the successful acquisition of Yoplait’s operations in Europe and the ownership of the Yoplait and Liberte brands globally in 2021, Sodiaal has entered into a definitive agreement with General Mills to acquire Yoplait and Liberté operations in Canada.

Sodiaal says that this marks a key milestone in their strategy to enhance brand value and expand internationally as part of its “Grandir Ensemble” strategic plan.

Concurrently, General Mills has entered into a definitive agreement to sell its U.S. yogurt operations to Lactalis, including, notably, the rights to operate the Yoplait and Liberté brands, of which Sodiaal would retain exclusive ownership.

The transaction is subject to receipt of requisite regulatory approvals and other customary closing conditions.

This transaction will try to strengthen Sodiaal’s FMCG (Fast Moving Consumer Goods) division, with a portfolio of diversified brands under Yoplait (Source, Crémeux, Yop, Minigo, Tubes) and Liberté (in particular the Greek and Mediterranean ranges).

The resumption of Sodiaal’s operations in Canada represents an additional value — creating lever for the cooperative’s farmers. With a high penetration rate (89%) and frequent purchases, the local fresh dairy market in Canada totaling CAD 1.9 billion [in 2023], offering a strong growth potential for Yoplait in this region.

“We are proud to have signed this agreement with General Mills to take over the activities of our Yoplait and Liberté brands in Canada. 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” declares Jean-Michel Javelle, President of Sodiaal.

With this agreement, Sodiaal will oversee Yoplait’s operations in Canada, generating an annual revenue of approximately CAD 500 million (EUR [340] million) by May 26, 2024. The transaction includes a manufacturing site located in Saint-Hyacinthe, Quebec.

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.