General Mills to sell assets of Brazilian business
May 15, 2009
by Jeff Gelski
MINNEAPOLIS — General Mills has signed an agreement to sell certain assets associated with Forno De Minas, a Brazilian bread business, to Laticinios Condessa, a supplier of food ingredients in Belo Horizonte, Brazil, General Mills said May 13. The sale includes the Forno De Minas brand, a production facility in Contagem, Brazil, and other assets. General Mills closed its Brazilian pasta and bread business in April as part of a restructuring plan. The company plans to increase investment in other areas, including the Haagen-Dazs super-premium ice cream and Nature Valley granola bar business, in Brazil.