Food Distributor General Mills Inc. (NYSE: GIS) has bought yogurt maker Carolina Administracao e Participacoes Societarias Ltda. for an undisclosed amount.
Carolina, headquartered in Ribeirao Claro, Brazil, produces yogurt and other dairy products under the Carolina, VeryGurt and Gluck brands. “Brazil is a strategic market for General Mills and yogurt is a growing category,” says General Mills president Olivier Faujour. Other strategic buyers, such as WhiteWave Foods Co. (NYSE: WWAV), are adding yogurt products.