MINNEAPOLIS — General Mills, Inc. completed the sale of its Canadian yogurt business to Sodiaal.
The transaction includes the Canadian operations of several yogurt brands, including Yoplait and Liberte, as well as a manufacturing facility in Saint-Hyacinthe, Quebec.
General Mills announced plans to divest its North American yogurt businesses in mid-September. At that time, the company said it had reached agreements to sell its Canadian business to Sodiaal and its US business to the Lactalis Group for a combined approximately $2.1 billion. The sale of the US business remains on track to be finalized later in 2025, General Mills said.
With the completion of the Canadian yogurt business sale and the acquisition of the North American Whitebridge Pet Brands business, General Mills updated its full-year fiscal 2025 outlook for adjusted earnings per share to a range of between down 4% and down 2%, which compared with a previous range of down 3% to down 1%.
General Mills said the transaction does not affect its outlook for fiscal 2025 organic net sales growth and will not have a material impact on its outlook for fiscal 2025 constant-currency adjusted operating profit growth and free cash flow conversion.