MINNEAPOLIS (AP) — General Mills Inc. said Wednesday that it has completed its acquisition of Brazilian food company Yoki Alimentos SA.
The Minneapolis-based cereal and food maker announced the deal in May. The financial terms were not disclosed. Yoki is a privately held company that makes snacks, dry soups, side dishes, seasonings and other products.
"Today marks a new beginning for General Mills in Brazil," Sean Walker, General Mills senior vice president and president of its Latin America region, said in a statement. "Yoki has fantastic brands that have nourished Brazilian families for decades."
General Mills, which makes foods such as Cheerios, Haagen-Dazs and Betty Crocker, is trying to build up its international business. The company previously estimated the Yoki buyout would more than double its annual sales in Latin America.
Yoki's performance will be included in General Mills' results beginning in its second quarter of this fiscal year.
Shares of General Mills were nearly unchanged at $38.69.