Apr 17, 2009
General Mills Brazil Restructures, Closes Pasta and Bread Plant
Increases Focus on Häagen-Dazs and Nature Valley in Brazil
SAO PAULO, BRAZIL – General Mills announced today that it is restructuring its business in Brazil, and closing its Brazilian pasta and bread businesses.
As a result, General Mills will stop producing and marketing Forno de Minas and Frescarini brand products to concentrate on its other faster growing businesses in Brazil.
“This will allow us to increase investment in our focus areas, including expansion of our fast growing Häagen-Dazs super-premium ice cream and Nature Valley granola bar businesses in Brazil,” said Pablo Pla, managing director of General Mills Brazil.
Forno de Minas and Frescarini are category-leading brands, and both could be attractive for other companies with synergies in the dough business, the company said.
Approximately 500 employees are affected by the decision, including the employees at the production facility in Contagem, MG. General Mills is offering comprehensive pay, benefits and other services for all affected employees.
General Mills acquired Forno de Minas and Frescarini with its acquisition of the Pillsbury Company in 2001.
About General Mills
One of the world's leading food companies, General Mills operates in over 100 countries and markets more than 100 consumer brands, including Cheerios, Häagen-Dazs, Nature Valley, Betty Crocker, Pillsbury, Green Giant, Old El Paso, Progresso, Cascadian Farm, Muir Glen, and more. Headquartered in Minneapolis, Minnesota, U.S.A., General Mills had fiscal 2008 global net sales of US$14.9 billion, including the company’s $1.2 billion proportionate share of joint venture net sales.
For additional information contact:
Kirstie Foster – (763) 764- 6364