General Mills May Sell Progresso, Hamburger Helper, Other Brands

Nov. 12, 2021
Bloomberg reports Big G is looking to raise $3 billion.

General Mills Inc. reportedly is considering selling a handful of older brands, including Progresso soup and Helper, according to Bloomberg.

The financial news service said General Mills is working with Goldman Sachs to explore a divestiture, which might include some smaller brands. The company hopes to raise approximately $3 billion from the sale.

The assets are likely to attract interest from private equity firms, Bloomberg's unnamed sources said. The Minneapolis-based firm has taken on substantial debt with recent acquisitions, including the $8 billion 2018 purchase of Blue Buffalo Pet Products. In March, General Mills sold its 51% controlling interest in Yoplait SAS (the global business) to brand-owner Sodiaal in exchange for full ownership of the Canadian Yoplait business.

Sponsored Recommendations

Troubleshoot: Grittiness in gluten free cookies

Learn how to adjust gluten free cookie recipes for a softer texture.

Clabber Girl: Rising Success

Uncover how Clabber Girl Corporation achieved a remarkable 7% growth and improved manufacturing efficiency by seamlessly integrating Vicinity's batch manufacturing solution with...

Intelligent Blends: Taking Technology to the Next Level

Find out how our friends at Intelligent Blends use VicinityFood and Microsoft Dynamics GP to produce the best coffee around.

Key ingredient: Mother Murphy's Laboratories

Flavorings manufacturer Mother Murphy’s Laboratories integrates front office with production facility — improving operations from initial order to final invoice.