General Mills explores potential sale of North America yogurt business for over $2 billion

General Mills, Inc. is considering selling its North America yogurt business in a deal that could fetch over $2 billion, according to Reuters. The Minneapolis-based company, known for its Yoplait yogurt brand, has reportedly hired JPMorgan Chase to assist with the sale.

Competition in the yogurt market has been heating up, with leaders like Chobani and Dannon posing a challenge to General Mills. The company’s yogurt portfolio includes brands such as Yoplait, Oui, Liberte, and Ratio Food.

General Mills acquired a majority stake in Yoplait back in 2011, but recently sold its European operations to focus on its US and Canadian business. Despite facing challenges in the yogurt category, the company has seen some success with new products like Yoplait Protein.

CEO Jeffrey L. Harmening has acknowledged the need for General Mills to improve its competitiveness in the yogurt space. The company is working on expanding its distribution and launching new offerings to drive growth.

General Mills is not alone in reevaluating its yogurt business, as Campbell Soup Co. is also exploring options for its noosa yogurt brand. The food manufacturer acquired noosa as part of its recent acquisition of Sovos Brands, Inc.

As General Mills and other food companies navigate the changing landscape of the yogurt market, the potential sale of the North America yogurt business could mark a significant shift in the industry.