3corações Buys Yoki and Kitano From General Mills in Brazil
Brazil · CORPORATE
Key Facts
- —What happened Grupo 3corações completed its purchase of Brazilian food brands Yoki and Kitano on September 3, 2026.
- —The scale The deal with General Mills covers two brands and is worth R$800 million (about US$157 million).
- —What it means 3corações now runs 15 factories nationwide and employs thousands of people across Brazil after this deal.
- —The catch General Mills paid roughly US$940 million for Yoki alone in 2012, far more than it just recouped.
- —Who’s affected General Mills exits Brazil’s grocery shelves entirely as 3corações becomes a much bigger food player.
- —What happens next General Mills says it will now focus on ice cream, Mexican food and pet food elsewhere.
Brazil’s biggest coffee company just became one of its biggest food companies too.
Brazil’s biggest coffee company just got a lot less dependent on coffee sales alone. Grupo 3corações completed its purchase of food brands Yoki and Kitano on September 3, 2026.
The deal with General Mills is worth R$800 million (about US$157 million). It hands 3corações two well-known Brazilian food brands, plus two working factories.
A Deal Months in the Making
General Mills first announced plans to sell the business back in March 2026. Brazil’s antitrust regulator (known as CADE) then had to review the deal.
Goldman Sachs ran the sale process for General Mills this year. Other major Brazilian food companies also reportedly bid for the assets.
The sale includes two factories, one in Pouso Alegre and one in Campo Novo do Parecis. Those plants keep making Yoki and Kitano products for supermarkets across the country.
Brazilian regulators cleared the deal without raising major objections. 3corações then closed its purchase of both brands on September 3.
What Yoki and Kitano Actually Make
Yoki is a household name on Brazilian pantry shelves, especially for corn and flour products. It leads the market for popcorn, potato sticks and farofa (a toasted cassava-flour side dish).
Kitano is the country’s top brand for natural seasonings and cooking spices. It also sells packaged teas, instant desserts and items for children’s parties.
A Japanese-Brazilian entrepreneur named Yoshizo Kitano launched the seasoning brand back in 1960. Both labels ended up under one Brazilian owner before General Mills bought them in 2012.
Yoshizo Kitano created the Yoki brand after selling his original company in 1989. His new company bought the Kitano name back seven years later, in 1996.
Why General Mills Walked Away
General Mills bought Yoki from Brazil’s Matsunaga family back in 2012. It paid R$1.95 billion (about US$940 million at the time).
Yoki already owned Kitano by that point, folding both brands into that price. A person close to the deal told Brazil Journal the unit kept losing money.
General Mills reportedly poured in fresh money to fix the Brazilian unit. The business still could not turn a lasting profit, insiders told Brazil Journal.
The Brazil unit brought in about US$350 million in net sales last year. General Mills said it wants to focus on brands with stronger profit margins instead.
Its priority list includes Häagen-Dazs ice cream, Mexican food and snack bars. Pet food rounds out that shorter list of favored categories worldwide.
General Mills built its Brazilian business partly through a 2001 purchase of Pillsbury. That deal brought Frescarini pasta and Forno de Minas cheese bread into its Brazilian lineup.
The company already sold both brands years before this new deal. General Mills now leaves Brazil’s grocery aisles almost entirely to local companies.
General Mills has reshaped roughly a third of its total portfolio since 2018. It has done that through a steady mix of purchases and sales.
3corações Goes Beyond Coffee
3corações already controls more than 30 percent of Brazil’s coffee market. It sells that coffee under brands like Santa Clara and Café Iguaçu.
President Pedro Lima said he is excited to welcome Yoki and Kitano into the group. He called the brands consumer favorites, backed by talented teams and real expertise.
The goal is to serve every meal, from morning coffee through dinner seasonings. 3corações had already sold cornmeal and regional seasonings since the early 1990s.
3corações already sold other food items under brands like Frisco and Dona Clara. Yoki and Kitano now expand that lineup by a wide margin.
Lima said the merger combines strong brands with talented people and real know-how. He called it complementary to what 3corações already builds in Brazil.
A Bigger Company With Global Owners
The combined business now runs 15 factories after adding two new plants. It employs thousands of people across Brazil in total.
3corações is jointly owned by São Miguel, its founding family’s holding company. Israel’s Strauss Group holds the other half under a partnership renewed in 2022.
The coffee business traces back to 1959, when it started by selling green coffee beans. This purchase stands as one of its biggest moves yet outside that original coffee trade.
The purchase gives 3corações a much bigger footprint in Brazilian kitchens overnight. It also closes another chapter in General Mills’ long retreat from Brazil.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What did 3corações just buy?
3corações bought the Brazilian food brands Yoki and Kitano from General Mills. The deal closed on September 3, 2026, for R$800 million (about US$157 million).
What do Yoki and Kitano make?
Yoki makes flour-based staples, microwave popcorn and potato sticks. Kitano makes natural seasonings, spices and other pantry items.
Why did General Mills sell these brands?
General Mills wants to focus on higher-profit brands like Häagen-Dazs ice cream. It said the Brazil business no longer fit its long-term growth plan.
How much is R$800 million in US dollars?
R$800 million equals about US$157 million, using the exchange rate on closing day. That rate was roughly 5.10 reais to the dollar.
What does this mean for 3corações?
3corações now runs 15 factories and employs thousands of people in Brazil. It becomes a much bigger force in Brazilian food beyond just coffee.
Sources: Grupo 3corações, General Mills (Businesswire), Forbes Brasil, ND+ (ndmais.com.br), Brazil Journal, The AgriBiz, Trading Economics.
Read More from The Rio Times