French dairy co-op giant Sodiaal has entered into a definitive agreement with General Mills to acquire Yoplait and Liberté operations in Canada.

With this agreement, Sodiaal will oversee Yoplait’s operations, which generate an annual revenue of approximately $500 million, according to data taken earlier this year. The transaction includes a manufacturing site in Saint-Hyacinthe, Que.

Sodiaal says the transaction strengthens its Fast Moving Consumer Goods division, with a portfolio of diversified brands under Yoplait (Source, Crémeux, Yop, Minigo, Tubes) and Liberté (in particular the Greek and Mediterranean ranges). “This acquisition strengthens our presence around the world and further promotes our French dairy expertise, which is appreciated across the Atlantic,” Sodiaal president Jean-Michel Javelle said.

Sodiaal is France’s leading dairy cooperative with more than 15,300 member producers across 8,523 farms.

Meanwhile, General Mills has also entered into a definitive agreement to sell its U.S. yogurt operations to Lactalis, including rights to operate the Yoplait and Liberté brands, of which Sodiaal would retain exclusive ownership.

General Mills’ ties with Yoplait began in the fall of 1977 when the former signed a franchise agreement with Sodima, Sodiaal’s previous moniker, and which granted the CPG exclusive rights to market the yogurt brand in the U.S.

Liberté, which traces its history back to Montreal in the 1930s, started making yogurt in 1964 and became part of Yoplait in 2010 and General Mills in 2021.