Negotiations are in progress, the company said, and consultation procedures with the respective works' councils are being initiated.
Under the proposed transaction, General Mills will partner with Sodiaal in expanding and growing [image-nocss] the Yoplait brand and businesses in France, Europe and around the world.
General Mills and Sodiaal have been business partners for decades. General Mills has licensed the Yoplait brand since 1977, and it is Yoplait's largest licensee. It has grown its Yoplait business to a leadership position in yogurts in the United States, one of the world's largest fresh dairy markets.
General Mills has been marketing food products in France for 50 years. Leading General Mills products, including Haagen-Dazs super-premium ice creams and Geant Vert vegetables, are also produced in France.
One of the world's leading food companies, General Mills operates in more than 100 countries and markets more than 100 consumer brands, including Cheerios, Haagen-Dazs, Pillsbury, Nature Valley, Betty Crocker, Green Giant, Old El Paso, Progresso, Cascadian Farm, Muir Glen and more. Headquartered in Minneapolis, Minn., General Mills had fiscal 2010 global net sales of$16 billion, including the company's $1.2 billion proportionate share of joint venture net sales.
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