General Mills: Disposal of two brands in North America


(CercleFinance.com) – General Mills announced on Wednesday that it has reached an agreement to sell two aging brands from its catalog to Eagle Family Foods Group, a subsidiary of investment firm Kelso & Company.

These are Helper, a line of pasta-based meal preparations, and Suddenly Salad, a set of pasta salad mixes, together generating annual sales of $235 million.

In a press release, General Mills explains that the operation will allow it to revitalize its growth profile in North America by offering it the possibility of refocusing on its most promising brands.

The operation, estimated at around 610 million dollars, should be finalized by the end of August.

The American group – which owns the Cheerios, Häagen-Dazs, Old El Paso and Yoplait brands, among others – expects the transaction to have a dilutive effect on its annual EPS of around 10 to 11 cents.

Copyright (c) 2022 CercleFinance.com. All rights reserved.



Source link -84