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

General Mills Inc GIS has 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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