KLA Advogados advised the multinational General Mills on the sale of its operations in Brazil to Grupo 3 Corações. The transaction involves a portfolio of highly relevant brands in the Brazilian market, including Yoki and Kitano.
According to General Mills, the sale reinforces the company’s priority of reshaping its portfolio to drive long-term profitable growth, in line with its global strategy.
The transaction also stands out for its relevance to the Brazilian food market, involving leading brands and expanding 3 Corações’ portfolio beyond coffee. Yoki offers products such as farofa and popcorn, while Kitano is a well-known brand for spices.
Among the brands, Yoki had been acquired by General Mills in 2012 from a family of Japanese immigrants and, at that time, General Mills was also advised by KLA Advogados.
At KLA, the current transaction was led by partner Melissa Kanô, with the participation of lawyers Rodrigo Cândido, Carlos Souto, and Helena Guerra, all from the Corporate, Mergers and Acquisitions practice, as well as Marcelo Laplane, from the Competition Law practice.
General Mills was also advised by Goldman Sachs as M&A advisor and by Trench Rossi Watanabe as tax counsel, under the leadership of partner Clarissa Machado.
Grupo 3 Corações, in turn, was advised by José Antonio Miguel Neto and Juliana Honda, from Miguel Neto Advogados, and by Deutsche Bank as M&A advisor.
The transaction remains subject to the applicable regulatory approvals.
