Star Tribune (Minneapolis, MN)

General Mills' billion-dollar baby; The Golden Valley-based food giant will buy Brazilian snackmaker Yoki to continue its push into emerging markets.(BUSINESS)


General Mills Inc. said Thursday that it will scoop up Brazilian foodmaker Yoki Alimentos SA for almost $1 billion, its second major international deal in the past year and one that will more than double its Latin American presence.

The acquisition will give Golden Valley-based General Mills a considerably bigger foothold in Brazil, which sports an increasingly vibrant middle class and one of the world's fastest-growing economies.

The deal also underscores the packaged food industry's increasing push into emerging markets as U.S. and western European markets slow. Those slowdowns contributed to General Mills' announcement Tuesday that it's eliminating about 425 jobs in the Twin Cities, about 7 percent of its local workforce, and another 425 elsewhere. …

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