General Mills To Pay $857M For Brazilian Food Co.

Law360, New York (May 24, 2012, 3:11 PM EDT) -- Minneapolis-based food manufacturing giant General Mills Inc. announced Wednesday it has signed a definitive agreement to purchase Brazilian food company Yoki Alimentos SA for $857 million, according to documents filed with the U.S. Securities and Exchange Commission.

General Mills will also assume Yoki's outstanding debt of $98 million as part of the deal, which it expects to close during the next six months. The purchase will more than double General Mills' annual sales in Latin America to almost $1 billion, the company said.

"Yoki adds key...
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