Strauss's 475 Million Shekel Acquisition of Food Company Yoki Approved

Approximately five months after Strauss reported on a major deal to expand its operations in Brazil beyond the coffee market, the company has cleared a significant hurdle toward completion. According to a report filed with the stock exchange, the Brazilian competition authority has approved the acquisition of the food company Yoki from General Mills. The approval is expected to become final on September 2, provided no objections are filed by that date.

In March, Strauss announced that 3corações, its 50%-owned joint venture in Brazil, had signed an agreement to acquire Yoki for approximately 800 million Brazilian reals, or about 475 million shekels. The deal is designed to expand the joint venture's operations beyond the coffee sector and establish it as a significant player in Brazil's dry food market.

Yoki, being acquired from General Mills, is one of the leading food companies in Brazil and owns brands including Yoki and Kitano. At the time of the announcement, its annual sales were estimated at approximately 2 billion reals (about 1.2 billion shekels), with operations spanning dry foods, snacks, cooking products, and seasonings.

At the time of the announcement, Strauss noted that the deal's completion is expected by the end of 2026, subject to receiving the necessary regulatory approvals and satisfying other conditions precedent.

For Strauss, the deal is a central pillar of its strategy to expand its Brazilian footprint beyond the coffee market. Notably, in the second quarter, Strauss's international coffee revenues fell by 13% to 1.33 billion shekels, though operating profit in the sector jumped by 44% to 148 million shekels. The group overall finished the quarter with revenues of 2.9 billion shekels—a 6.7% decrease—but saw a 117% surge in net profit to 195 million shekels.