General Mills to sell Lloyd's business to Hormel

General Mills, Inc., Minneapolis, announced March 22 that it had reached an agreement to sell its Lloyd's barbecue business to the Hormel Foods Corporation. General Mills plans to complete the sale during the fourth quarter of fiscal 2005. General Mills purchased Lloyd's in 1999. Lloyd's produces high-quality refrigerated foods including barbecued ribs and heat-and-eat meats. The business includes one manufacturing facility in St. Paul, Minn., which employs approximately 210 people. Terms of the agreement were not disclosed.