General Mills in exclusive talks with Yoplait

Robert Nyirenda, Owner, Nyirefami Grains Ltd., Tanzania with Peter Erickson, SVP, Innovation, Technology & Quality, General Mills. Nyirefami mills flour made from corn, wheat, bananas, sorghum and millet. Partners in Food Solutions assisted with installation of a quality control lab and improvements to washing and pre-drying operations. With help from Partners in Food Solutions, the company's capacity rose from one metric ton per day to five, and its farmer-suppliers were able to build a health center. (Photo: Business Wire)

NEW YORK - General Mills says it has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait.

The binding offer with PAI Partner and Sodiaal, the owners of Yoplait S.A.S., would beat out rivals bidding for the company.

General Mills' offer includes a 50 percent interest and a controlling role in the company, the food company said Friday. It says that discussions are in progress.

Under the proposed transaction, General Mills will team up with Sodiaal in expanding the Yoplait brand and businesses in France, Europe and around the world.

General Mills, based in Minneapolis, has licensed the Yoplait brand since 1977, and is Yoplait's largest licensee.

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