General Mills divests European dough businesses

General Mills- European dough businesses to Cérélia
General Mills corporate headquarters in Minneapolis, US. (iStock/File Photo)

General Mills has announced an agreement to sell its European dough businesses to Cérélia, a global leader in ready-to-bake dough solutions.

The deal includes General Mills branded and private label dough businesses in Germany, the UK, and Ireland, including the Knack & Back and Jus-Rol brands.

General Mills said the divestitures represent another step in its Accelerate strategy, which is centered on clear priorities on where to play – across geographies as well as platforms and brands – to drive long-term growth.

Each of the transactions is expected to close by the end of fiscal 2022.