MINNEAPOLIS--(BUSINESS WIRE)--May. 10, 2012--
General Mills (NYSE: GIS) confirmed today that Yoplait S.A.S. has
reached an agreement to terminate the current Yoplait brand license in
Canada on September 1, 2012. At that time, General Mills Canada will
begin to market, sell and distribute Yoplait yogurt products in Canada
under license from Yoplait S.A.S. The current Canadian licensee, Ultima
Foods, will continue to produce Yoplait branded products to be sold by
General Mills Canada under a multi-year manufacturing agreement.
The yogurt category in Canada generates CAD $1.2 billion in annual
retail sales, and Yoplait holds a 28 percent market share. With the
addition of this business, General Mills will rank among the five
largest food companies in Canada, with leading brand positions across a
number of key shelf stable, frozen and refrigerated categories.
Yoplait S.A.S. also directly owns and operates the Liberte yogurt
business in Canada. Liberte holds an 8 percent value share of the
Canadian yogurt market, and is the leading brand in Canada’s
fast-emerging Greek yogurt segment.
Source: General Mills
(analysts) Kris Wenker: 763-764-2607
Kirstie Foster: 763-764-6364