Cerelia to obtain European mass business from General Mills

Cerelia to obtain European mass business from General Mills

“These divestitures represent another step in the General Mills accelerate strategy, which is centered on clear priorities on where to play — across geographies as well as platforms and brands — to drive long-term, superior shareholder returns,” General Mills said. “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.”

The Cerelia Group has consented to secure General Mills, Inc’s. European dough businesses. Terms of the arrangement were not disclosed. The proposed procurement includes General Mills’ marked and private label dough businesses in Germany, Ireland and the United Kingdom. Both the Knack and Back and Jus-Rol marks likewise are a piece of the agreement. Cerelia is a producer of frozen and refrigerated dough. The organization had deals of €500 million ($560 million) in 2020, operates 10 manufacturing plants all throughout the planet and utilizes around 1,600. Brands possessed by the company include Creapan, Croustipate, Debora, English Bay, Jan and Pop Bakery.

Earlier this year Cerelia acquired US Waffle, Greenville, SC, a processor of private label waffles and pancakes.

The transaction is expected to be finalized by the end of General Mills’ 2022 fiscal year, which ends in May, and is subject to regulatory and closing conditions.

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