General Mills in Acquisition of Brazilian Food Company

Cleary Gottlieb represented General Mills, one of the world’s leading food companies, in connection with its acquisition of Yoki Alimentos, a Brazilian privately-held food company, for approximately R$1.75 billion plus the assumption of approximately R$200 million of outstanding debt. The acquisition was consummated through the acquisition of the entire equity interest in Yoki and its subsidiaries.

Yoki was a family-owned company established in 1960, which employs more than 5,000 people and operates multiple manufacturing facilities and distribution centers in Brazil. With the acquisition of Yoki, General Mills expects to more than double its annual sales in Latin America to nearly US$1 billion.