French dairy cooperative Sodiaal has completed the acquisition of Yoplait Liberté Canada operations after obtaining approval from the relevant competition authorities.
In September of last year, General Mills announced plans to sell its North American yoghurt business to French dairy firms Groupe Lactalis and Sodiaal in a $2.1 billion (€1.9 billion) deal.
The acquisition aligns with Sodiaal’s strategy to focus on brand value and internationalisation, according to the company.
It will consolidate Sodiaal’s consumer goods segment by adding various products from brands like Yoplait (Source, Crémeux, Yop, Minigo, Tubes) and Liberté (particularly the Greek and Mediterranean ranges) to its portfolio.
Additional Value Creation
The deal also represents an additional value creation lever for the 15,000 member producers and contributes to Sodiaal’s international growth, the company noted.
It will see the integration of 49 office employees from Montreal and Toronto, as well as 264 employees from the production site in Saint-Hyacinthe, Quebec.
Jean-Michel Javelle, president of Sodiaal, stated, “The finalisation of the acquisition of Yoplait and Liberté in Canada marks the return of Yoplait to its founders: the Sodiaal cooperative producers.
“This acquisition, which fills our collective with pride, confirms our French and international expertise in the dairy business and will be a source of value creation.”
With a high penetration rate (89%), the local fresh dairy product market in Canada generated CAD 1.9 billion (€1.3 billion) in 2023. This offers significant growth potential for Sodiaal in this region.
CEO Appointment
Sodiaal has named Raphaël de Pazzis as the chief executive of Yoplait Liberté Canada, reporting to Myriam Riedel Kienzi, CEO of Yoplait International and a member of Sodiaal’s executive committee.
In this role, de Pazzis will be responsible for building a profitable growth project for the Yoplait and Liberté brands’ operations in Canada, together with the teams.
“I have every confidence in Raphaël de Pazzis, CEO of Yoplait Liberté Canada, and Myriam Riedel Kienzi, CEO of Yoplait International, to continue to strengthen our position in Canada, thanks to high-quality, accessible dairy products, and to encourage innovation with all the Canadian teams,” stated Antoine Collette, chief executive officer of Sodiaal.
Sodiaal’s portfolio already includes Yoplait’s operations in Europe and the management of its franchises in 40 countries worldwide.
