Greek-style yogurt has emerged as a supermarket darling, a high-protein product with a health aura that rattles the longtime leader. Once virtually unknown, Greek-style yogurt now captures about one-quarter of the U.S. yogurt market. Yoplait, a brand of Minnesota-based General Mills, has "some work to do . . . to get into the game," General Mills' retail chief said Wednesday.
The deal protects General Mills' U.S. yogurt business. The food maker has sold Yoplait, the world's second-largest yogurt brand, under license in the U.S. for 30 years. The companies have been in arbitration about the future of that license.
The Golden Valley, Minn.-based company says earnings surged to $358.8 million, or $1.07 per share, for the three months ended May 31. That compares with $185.2 million, or 53 cents per share, a year ago.
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