News

General Mills sells Green Giant

General Mills is to sell its Green Giant and Le Sueur vegetable businesses to B&G Foods for approximately $765 million. General Mills will continue to operate the Green Giant business in Europe and select other export markets under license from B&G Foods. The company said that the sale reinforces General Mills’ strategic priority to shape […]

General Mills is to sell its Green Giant and Le Sueur vegetable businesses to B&G Foods for approximately $765 million.

General Mills will continue to operate the Green Giant business in Europe and select other export markets under license from B&G Foods.

The company said that the sale reinforces General Mills’ strategic priority to shape its portfolio for growth, focusing its resources on the brands, categories, and geographic markets that have the greatest future growth opportunities.

The Green Giant and Le Sueur businesses included in the proposed transaction, comprised of the U.S., Canada, and select other markets, generated annual net sales of approximately $585 million in fiscal 2015.

The transaction, which is subject to regulatory approval, is expected to close by the end of the calendar year.