General Mills Agrees to Sell North American Yogurt Assets

General Mills Inc. has agreed to sell its North American yogurt business, which includes the popular Yoplait brand, for $2.1 billion in cash.

The New York-listed firm will sell its US and Canadian operations to French dairy companies Groupe Lactalis and Sodiaal, respectively, according to a statement on Thursday that confirmed an earlier Bloomberg News report.

Heightened competition with the likes of Danone SA and Chobani Inc. in the US, along with limited penetration of the market, led to discussions of an exit from the country’s yogurt market, Bloomberg Intelligence analysts Jennifer Bartashus and Jibril Lawal wrote in ...