General Mills completes Brazil business sale
- General Mills (NYSE:GIS) completed the sale of its Brazil business to 3corações.
- The transaction includes local brands Yoki and Kitano, along with supply chain facilities in Pouso Alegre and Campo Novo do Parecis.
- General Mills said the divestiture supports its strategy of focusing on brands and platforms with opportunities for profitable growth.
General Mills (NYSE:GIS) completed the sale of its Brazil business to 3corações, transferring a portfolio of local brands and supply chain facilities as part of its ongoing portfolio changes.
The transaction includes brands such as Yoki and Kitano, along with manufacturing and supply chain facilities located in Pouso Alegre and Campo Novo do Parecis, Brazil.
General Mills stated that the sale is part of its effort to reshape its portfolio by focusing resources on brands and platforms it believes provide stronger opportunities for profitable growth.
The company said that since fiscal 2018, it has changed approximately one-third of its net sales base through acquisitions and divestitures as part of its portfolio management strategy.
General Mills has continued reviewing its global operations through acquisitions and sales of businesses, with the company using portfolio changes to adjust its business mix.
The company produces and markets food products across categories including snacks, cereals, meals, and pet food, with operations spanning multiple global markets.
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