Bright Food, PE may eat yogurt with Yoplait

PAI acquired its 50% share in Yoplait - the world's second-largest yogurt and dairy producer after Danone - in 2002 from French dairy cooperative Sodiaal, which continues to hold a 50% stake, according to PAI's website. Upon announcing PAI's intended stake sale in November, the firm estimated that the company would be valued between $1.6 billion and 2 billion, well below Bright Food's bid.

According to global reports, while the names of the other bidders have not been disclosed, trade contenders for the asset are said to be the US' General Mills; Switzerland's Nestle; Mexican diary company Grupo Lala; and French cheese and dairy producers Bel and Lactalis, the latter of which previously made a bid that was rejected as too low.

Yoplait claims a 9% global market share in its niche and is touted as one of the top 20 global consumer brands in terms of recognition, according to PAI's site. In December, Bright Food linked with Blackstone to take US nutritional supplement retailer GNC Holdings Inc., in a transaction that was estimated to be worth between $2.5 billion and $3 billion.

 

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• Topics
• Greater China
• Consumer
• AXA Private Equity Asia
• Bain Capital Asia