General Mills completes purchase of Yoki
by Eric Schroeder
MINNEAPOLIS — General Mills, Inc. on Aug. 1 completed its acquisition of Yoki Alimentos S.A., a family-owned Brazilian company whose Yoki and Kitano branded products hold leading market positions in several food categories, including popcorn and snack nuts, side dishes, dry soups, grains and beans, and seasonings. The company has more than 5,000 employees and posted sales of approximately $527 million in 2011.
“Today marks a new beginning for General Mills in Brazil,” said Sean Walker, senior vice-president and president of General Mills’ Latin America region. “Yoki has fantastic brands that have nourished Brazilian families for decades. We are honored that the family owners of Yoki are entrusting us with this fabulous business and its 5,300 people. We are poised to accelerate our growth in Brazil.”
The business will be managed by Mr. Walker, who also heads General Mills Brazil. He will be joined by a leadership team consisting of key managers from both General Mills and Yoki.
Yoki’s performance will be included in General Mills’ results beginning in its second quarter of this fiscal year.