General Mills: sells 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 portfolio to Eagle Family Foods Group, a subsidiary of investment firm Kelso & Company.


The brands are Helper, a line of pasta-based meal preparations, and Suddenly Salad, a line of pasta salad mixes, which together generate annual sales of 235 million dollars.

General Mills said that the deal will revitalise its growth profile in North America by enabling it to refocus on its most promising brands.

The deal, worth around 610 million dollars, is expected to close by the end of August.


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