General Mills has announced plans to sell its European dough businesses to Cérélia, a manufacturer of ready-to-bake dough solutions.
The proposed sale would include General Mills’ branded and private label dough business in Germany, the UK and Ireland – with its Knack & Back and Jus-Rol brands included in the transaction.
Each of the transactions is expected to close by the end of fiscal 2022, subject to regulatory approvals and customary closing conditions.
The deal marks another step in General Mills Accelerate strategy, which includes reshaping its portfolio for “sustainable, profitable growth by increasing its focus on advantaged global platforms, which include Mexican food, super-premium ice cream and snack bars”.
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