General Mills (GIS) said it has inked a definitive agreement to acquire Yoki Alimentos S.A., a privately-held food company headquartered in Sao Bernardo do Campo, Brazil.
General Mills now expects the transaction to close during the first half of its 2013 fiscal year, which begins on May 28, 2012.
General Mills stated that along with the Yoki acquisition, its fiscal 2013 plans include strong cash returns to shareholders.
Chris O'Leary, General Mills' executive vice president and chief operating officer—International, said, "We are delighted to add Yoki's talented people and strong brands to General Mills' growing international business. Yoki adds key capabilities and geographic scale that will accelerate our growth in Brazil. We plan to focus on building the strong Yoki and Kitano product portfolio, expanding our current Haagen-Dazs and Nature Valley businesses in Brazil, and introducing additional General Mills brands in this important market over time."
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