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General Mills To Divest European Dough Businesses To Cérélia For Undisclosed Sum

  • General Mills Inc (NYSE: GIShas agreed to sell its European dough businesses to Cérélia, a ready-to-bake dough solutions provider. The financial terms were not disclosed.
  • The proposed transactions would include General Mills branded and private label dough businesses in Germany, the U.K., and Ireland, including the Knack & Back and Jus-Rol brands.
  • The company expects to close each of the transactions by the end of fiscal 2022.
  • General Mills noted the sale is in line with the effort to reshape its portfolio for sustainable, profitable growth.
  • Price Action: GIS shares are trading lower by 0.49% at $63.13 on the last check Wednesday.

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