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May 25, 2022, 7:10 a.m. EDT

General Mills to sell Helper meals, Suddenly Salad side dishes businesses for more than $600 million

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By Tomi Kilgore

General Mills Inc. /zigman2/quotes/206659526/composite GIS +6.16% announced Wednesday an agreement to sell its Helper meals and Suddenly Salad side dishes businesses in a cash deal valued at about $610 million to Kelso & Co.'s Eagle Family Foods Group. Shares of the branded foods company, which brands include Cheerios, Nature Valley and Häagen-Dazs, fell 0.5% in premarket trading. The company said the Helper and Suddenly Salads businesses generated total revenue of $235 million in fiscal 2021, or about 1.3% of total 2021 revenue of $18.13 billion. "This transaction improves our North America Retail segment's growth profile and allows us to increase our focus on brands and categories where we have the best opportunities to drive profitable growth," said Jon Nudi, group president of North America Retail. The stock has gained 2.6% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.38% has dropped 17.3%.

/zigman2/quotes/206659526/composite
US : U.S.: NYSE
$ 74.59
+4.33 +6.16%
Volume: 5.02M
June 29, 2022 12:13p
P/E Ratio
19.97
Dividend Yield
2.73%
Market Cap
$42.31 billion
Rev. per Employee
$517,914
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/zigman2/quotes/210599714/realtime
US : S&P US
3,806.93
-14.62 -0.38%
Volume: 893.41M
June 29, 2022 12:13p
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