May 10, 2012
General Mills to market Yoplait yogurt in Canada
MINNEAPOLIS, Minn. – 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.
Kris Wenker, 763-764-2607 (analysts)
Kirstie Foster, 763-764-6364 (media)