General Mills Acquires Dean Foods Brand

General Mills announced today its agreement to purchase the Mountain High Yoghurt business and the Mountain High brand from Dean Foods.

Mountain High all-natural yoghurt is a leading large-size yogurt brand in the Western United States. General Mills will continue to operate the Mountain High business, and will retain the trusted Mountain High name. Mountain High will become part of General Mills' Yoplait USA division in the United States.

"Mountain High is an exceptional all-natural yogurt brand that brings with it a strong heritage of quality," says Becky O' Grady, president of General Mills' Yoplait division. "We are excited about this opportunity to double our large-size yogurt business with this strong brand -- and we are committed to maintaining the great-tasting, all-natural Mountain High Yoghurt products that consumers love."

Mountain High was founded in Boulder, Colo., in 1976, and is currently based in Englewood, Colo. Mountain High Yoghurt products are sold in major retail outlets across the Western United States. Mountain High produces all-natural original-style, low-fat, and fat-free yogurt in 32-oz., 64-oz., and 6-oz. sizes in a variety of flavors including plain, vanilla, strawberry, lemon and raspberry.

The transaction is expected to be completed early in 2011, subject to customary closing conditions and necessary regulatory approvals. Terms of the transaction were not disclosed.