Strauss Nears Major Deal: Acquiring Food Business for 475 Million Shekels
Brazil's antitrust authority has approved the deal in which a subsidiary of Strauss's joint venture will acquire General Mills' operations in the country, including the Yoki and Kitano brands. The deal is expected to reach its final stage in early September.
Strauss is nearing the completion of a major deal in Brazil: the company announced today that the country's antitrust authority has approved the acquisition of General Mills' operations in Brazil, which owns, among other things, the food brands Yoki and Kitano.
As part of the deal, a subsidiary of the joint venture 3Corações, held in equal parts by Strauss Coffee and São Miguel, will acquire 100% of the operations for 800 million Brazilian reais, amounting to approximately 475 million shekels.
The acquired operations recorded sales of about 2 billion reais in 2025, or approximately 1.2 billion shekels. Yoki operates in the Brazilian food market, marketing a variety of products including dry food, snacks, cooking solutions, and seasonings.
The antitrust authority's approval is expected to become final on September 2, 2026, provided no objections are filed. Once the approval is finalized, the material conditions precedent will be met, and a completion date will be set.
3Corações is a joint venture between Strauss Coffee and São Miguel, with each company holding a 50% stake. The acquisition of Yoki is intended to expand 3Corações' footprint in the Brazilian food market beyond the coffee sector.
Strauss stated:
"This deal constitutes a significant strategic step in strengthening 3Corações' activity in the Brazilian food market, expanding its presence beyond the coffee category, and creating new growth engines in one of the Strauss Group's core markets."
