General Mills has acquired Brazilian yogurt maker Carolina Administracao e Participacoes Societarias Ltda (Carolina) for an undisclosed amount.
"We are delighted to add Carolina's strong brands and talented team to General Mills' growing international business," said Chris O'Leary, General Mills' Executive Vice President and Chief Operating Officer—International. "Carolina's strong capabilities in yogurt and dairy will accelerate General Mills' growth in Brazil.”
Speaking about the company’s future plans, O’Leary added, “We plan to invest and build on the strong Carolina product portfolio, leveraging our own expertise and the Carolina team to grow and expand in Brazil – a very important market for General Mills International."
Carolina is a family-owned company that opened its doors in 1969 and is a leading regional dairy products producer known for its yogurt brands: Carolina, VeryGurt and Gluck. The company markets over 20 different dairy product lines.
Carolina Founder Maurício Araújo said, "We are pleased to see our Carolina brands and businesses joining General Mills. As a family-owned company, it was important to us to join a company that shared Carolina's values of 'doing the right thing' as we continue to grow our business. The global capabilities of General Mills will help our talented and committed Carolina employee team continue to grow our brands and businesses. We look forward to accelerating the growth of Carolina for years to come."
"Brazil is a strategic market for General Mills, and yogurt is a growing category," added Olivier Faujour, President, Global Yogurt and Ice Cream for General Mills. "Carolina's quality brands and products match perfectly with General Mills' company mission, which is to serve the world by making food people love. General Mills' global dairy capabilities will complement and build upon Carolina's already strong reputation for quality products and dairy 'know-how.' It should be a perfect fit that will allow us to bring even more delight to Brazilian consumers with superior quality yogurt and dairy products."
According to General Mills, the company plans to continue to invest in Brazil, which is an important market for the company’s intended international expansion.