General Mills sells Pop Secret brand for $190 million
Aug. 18, 2008
General Mills Inc. is selling its Pop Secret microwave popcorn business to Diamond Foods Inc. for about $190 million cash.
Golden Valley-based General Mills disclosed the sale today in a press release.
The sale was part of a prioritization of opportunities for General Mills, said company spokeswoman Heidi Geller. In particular, the company is focused on selling its Nature Valley granola products and other grain snacks. The popcorn product was produced at third-party manufacturers, so there will be no direct impact on General Mills employees or plants, she said.
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