General Mills expands Brazil presence with Yoki buy
MINNEAPOLIS — General Mills has expanded its portfolio in Brazil with the acquisition of Yoki Alimentos.
“Today marks a new beginning for General Mills in Brazil,” said Sean Walker, General Mills SVPand president of its 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 Walker, who also heads General Mills Brazil. He will be supported by a leadership team consisting of key managers from both General Mills and Yoki.
Founded by Yoshizo Kitano in 1960, Yoki markets more than 600 items under nine brands, including Yoki and Kitano branded flours and other basic foods, popcorn, convenient meals, soups, desserts and seasonings. It also markets Yokitos snacks, Lin Tea tea products and soy beverages under the Mais Vita brand. Yoki reported IFRS sales of BRL 1.1 billion for the year ended December 2011.
Yoki’s performance will be included in General Mills’ results beginning in its second quarter of this fiscal year.