Strauss Gains Brazilian Antitrust Approval to Acquire Food Company Yoki for 475 Million Shekels
About five months after announcing its major expansion deal in Brazil beyond coffee, Strauss has cleared a significant regulatory hurdle. The Brazilian competition authority approved Strauss's acquisition of the food company Yoki from General Mills. This approval is expected to become final on September 2, provided no objections are filed by then. In March, Strauss reported that its Brazilian joint venture 3corações, in which it holds a 50% stake, signed an agreement to buy Yoki for approximately 800 million Brazilian reais, equivalent to around 475 million shekels.
The acquisition aims to broaden 3corações' operations beyond coffee and establish it as a key player in Brazil's dry food market. Yoki, a prominent Brazilian food company owned by General Mills, includes brands such as Yoki and Kitano. At the time of the deal announcement, Yoki's annual sales were estimated at about 2 billion reais (1.2 billion shekels), with products spanning dry foods, snacks, cooking ingredients, and seasonings. Strauss expects to complete the transaction by the end of 2026, subject to regulatory approvals and other conditions.
This deal is a central part of Strauss's strategy to expand its footprint in Brazil beyond coffee. Notably, Strauss's international coffee revenues declined by 13% to 1.33 billion shekels in the second quarter, although operating profit in the segment surged 44% to 148 million shekels. Overall, Strauss Group's revenues fell 6.7% to 2.9 billion shekels in the quarter, while net profit more than doubled by 117% to 195 million shekels.
