MINNEAPOLIS — General Mills, a titan in household food brands, has announced the agreement to sell its European dough business to Cerelia, a leader in ready-to-bake dough solutions.
The proposed transactions would include General Mills-branded and private-label dough businesses in Germany, the UK and Ireland. Brands would include Knack & Back, the Pillsbury-related leader in Germany’s refrigerated dough category, and Jus-Rol, known for its pastry products. Each of the transactions is expected to close by the end of fiscal 2022.
These divestitures represent steps toward the General Mills Accelerate strategy, which is focused on geographic and brand strategy to drive long-term superior shareholder returns. 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.
