03:25 PM EDT, 04/26/2024 (MT Newswires) -- General Mills ( GIS ) is exploring sale of its yogurt business in North America that could be worth over $2 billion, Reuters reported Friday, citing people familiar with the situation.

The company has tapped JPMorgan Chase to assess interest from potential buyers, which could be rival snack food companies, and private equity firms.

General Mills ( GIS ) aims to achieve a valuation for the yogurt portfolio at nearly 10 times its 12-month earnings before interest, taxes, depreciation, and amortization of around $250 million, Reuters reported.

Representatives for General Mills ( GIS ) and JPMorgan Chase declined Reuters' requests for comments.

Neither companies immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 70.99, Change: -0.39, Percent Change: -0.55