Like the Chinese business being sold, the European business of the well-known yogurt brand yono may usher in the same fate.
Xiaoshidai noticed today that according to the French media “echo”, General Mills plans to sell its European business to sodial, a French dairy cooperative, with a transaction valuation of about 400 million euros (now about 3.098 billion yuan). The deal is expected to be completed by the fourth quarter of this year with the approval of the relevant market competition authorities.
Sodial will take over three French factories and subsidiaries in the UK, the Czech Republic, Slovakia and Sweden, the report said. The deal does not affect GM’s Unocal operations in the US and Canada.
According to Nielsen’s data quoted by the echo, unor’s French market share in terms of sales fell by more than 4 percentage points in three years, from 15% in 2016 to 10.7% in 2019. A spokesman for General Mills said to the media that “we will not comment on rumors and reports.”.
Xiaoshidai noticed that sodial, the rumored buyer, was the unionair partner of general mills. According to public information, after General Mills completed its acquisition of Unocal in 2011, it held 51% equity of Yoplait SAS, a joint venture company of Unocal, and 50% equity of Yoplait marques SNC, another entity (Note: the company is the owner of Unocal trademark and other related trademarks). Sodial holds the remaining shares in the two companies.
This means that if the rumor turns out to be true, general mills will sell part of its yogurt business again.
Xiaoshidai introduced that in 2019, General Mills announced that it had reached an agreement with Unocal to sell its business in China to Tiantu investment. According to the statement, Tiantu investment will take a wholly-owned stake in UnionPay Kunshan plant, and reach an licensing agreement with general mills to carry out R & D, production, marketing and sales of UnionPay brand in mainland China. General mills will continue to hold the global registered trademark of UNO.
Xiaoshidai noticed today that General Mills later disclosed in its 2019 annual report that it had obtained a pre tax income of US $5 million (now about RMB 32.636 million) in this transaction. In addition, yono
Shortly after the acquisition of China business by Tiantu, uno further expanded its category from yogurt to fresh milk, and launched its global high-end milk product in Shanghai at the end of 2019. At that time, the company’s senior management said that uno would implement the cross category diversification strategy.
In fact, Tiantu investment seems to be very optimistic about the brand of the business, including the additional investment last year. Today, xiaoshidai visited the official mall of UNO wechat and found that the brand is currently selling fresh milk and a variety of yoghurt. Since the beginning of this year, in terms of products, uno has launched a new yogurt product with the main theme of “containing vitamin C”. In terms of service, uno has launched the fresh milk delivery to the home.