A fight between General Mills Inc. and the French daily company that owns the Yoplait yogurt brand could take years to resolve, General Mills CEO Ken Powell told investors Monday.
Powell, taking questions at the Golden Valley-based company's annual meeting of shareholders, was asked about negotiations with Sodima, which wants to terminate the Yoplait licensing agreement. General Mills has licensed the Yoplait trademark since 1977.
Powell read from a prepared statement and said the terms of the licensing agreement do not provide for renegotiation or termination in "these circumstances."
General Mills filed for arbitration with the International Chamber of Commerce International Court of Arbitration in New York. The process is expected to take "months, if not years," Powell said.
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