General Mills, Minneapolis, acquired yogurt maker Carolina Administracao e Participacoes Societarias Ltda., a privately-held dairy processor headquartered in Ribeirao Claro, Parana, Brazil. Terms of the transaction were not disclosed.
Operating primarily in southern and southeastern Brazil, Carolina sources high-quality milk from farmers in the dairy-rich region of Parana, and markets more than 20 different dairy product lines, including Carolina, VeryGurt and Gluck brands.
"We are delighted to add Carolina's strong brands and talented team to General Mills' growing international business," says Chris O'Leary, General Mills' executive vice president and COO, international. "Carolina's strong capabilities in yogurt and dairy will accelerate General Mills' growth in Brazil. 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."
"We are pleased to see our Carolina brands and businesses joining General Mills,” adds Carolina founder Maurício Araújo. “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," adds 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."