French dairy company Sodiaal sells German cheese business to Meggle, Fonterra completes sale of two China farms

GERMANY – French dairy company Sodiaal has sold German cheese company Stegmann Emmentaler Käsereien GmbH to Meggle Group GmbH. The acquisition comes just a month after the French dairy company bought a 51% controlling interest in Yoplait S.A.S. from General Mills In exchange for the 51% stake it gave to Sodiaal, General Mills got a full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in the US and Canada. In a statement, Meggle said the acquisition of Stegmann sustainably…

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General Mills to achieve full ownership of North America Yoplait business after deal with French dairy Sodiaal

NORTH AMERICA – General Mills has entered into an agreement to sell its 51% stake in Yoplait’s European business to Sodiaal in exchange for Sodiaal’s 49% stake of Yoplait Canada. The deal also involves a  drastic reduction of royalties on sales of Yoplait and Liberté branded yogurt sold in the United States and Canada. According to General Mills, after the transaction closes, the company would completely own North American yogurt operations that generated US$1.4 billion in net sales in the fiscal year 2020. In contrast, the European arm of Yoplait…

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