Sector News

General Mills initiates sale of European dough businesses to Cérélia

November 28, 2021
Food & Drink

General Mills has agreed to sell its European dough businesses to Cérélia, a global supplier of ready-to-bake dough solutions. The proposed transactions would include General Mills branded and private label dough businesses in Germany, the UK, and Ireland, including the Knack & Back and Jus-Rol brands.

Each transaction is expected to close by the end of fiscal 2022, with the German transaction subject to appropriate labor consultations, regulatory approvals, and other customary closing conditions.

These divestitures represent a step in the General Mills Accelerate strategy, which is “centered on clear priorities on where to play” – across geographies as well as platforms and brands – to drive long-term growth.

“Internationally, the strategy includes efforts to reshape the company’s portfolio for sustainable, profitable growth by increasing its focus on advantaged global platforms, which include Mexican food, super-premium ice cream and snack bars,” the company states.

Earlier this month, media reports tipped that General Mills could potentially be looking to sell its Progresso soup and Hamburger Helper brands, while no further statement from the company has been made.

Business highlights
General Mill’s portfolio of brands includes Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry and Yoki.

Headquartered in Minneapolis, Minnesota, US, the F&B giant generated fiscal 2021 net sales of US$18.1 billion. In addition, the company’s share of non-consolidated joint-venture net sales totaled US$1.1 billion.

In other recent divestments, General Mills moved to sell its 51% controlling interest in Yoplait to Sodiaal, a leading French dairy cooperative, earlier this year. The company took over the same brand Canada while relinquishing its control of the yogurt enterprise outside North America.

Edited by Benjamin Ferrer


comments closed

Related News

January 23, 2022

IFF appoints Frank Clyburn as CEO

Food & Drink

International Flavors & Fragrances (IFF) has announced the appointment of Frank Clyburn as CEO and member of the board of directors, effective 14 February 2022. Clyburn, who will step down from his position as executive VP and president of human health at Merck & Co, succeeds current IFF CEO Andreas Fibig

January 23, 2022

Jack Link’s expands Peperami range with new chorizo five-packs

Food & Drink

Jack Link’s-owned meat snacking brand Peperami has launched new chorizo five-packs to add to its extensive snack portfolio. The new chorizo sticks are made with 100% pork, packed with protein, contain 99 calories and are unpasteurised to maintain a fuller flavour — providing a shelf life of over six months.

January 23, 2022

More beer in the glass with physics

Food & Drink

While foam is certainly desirable in the bathtub or on beer, preventing foam – for example in industrial processes – is a much-discussed topic. A team of researchers at the Max Planck Institute for Polymer Research has now shown that so-called “superamphiphobic surfaces” can be used to prevent foaming.

Send this to a friend