General Mills announces the selling of Forno de Minas
Agreement includes production facilities in Minas Gerais
General Mills announced today that it has signed an agreement to sell the Forno De Minas business to Laticínios Condessa, a supplier of food ingredients in Belo Horizonte, Brazil.
The sale includes the Forno De Minas brand, its production facility in Contagem, MG, and other assets associated with the Brazilian bread business. Terms of the sale were not disclosed.
The company restructured on April 17 and stopped producing the bread products to focus on its faster growing businesses in Brazil.
General Mills acquired Forno De Minas and Frescarini with its acquisition of the Pillsbury Company in 2001.
About General Mills
One of the world’s leading food companies, General Mills operates in over 100 countries and markets more than 100 consumer brands, including Cheerios, Häagen-Dazs, Nature Valley, Betty Crocker, Pillsbury, Green Giant, Old El Paso, Progresso, Cascadian Farm, Muir Glen, and more. Headquartered in Minneapolis, Minnesota, U.S.A., General Mills had fiscal 2008 global net sales of US$14.9 billion, including the company’s $1.2 billion proportionate share of joint venture net sales.
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