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Nov 02, 2015

General Mills completes sale of Green Giant to B&G Foods

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MINNEAPOLIS, Minnesota -- General Mills, Inc., (NYSE: GIS) announced today it has completed the sale of its Green Giant and Le Sueur vegetable businesses to B&G Foods, Inc., (NYSE: BGS) for $765 million in cash plus an inventory adjustment at closing of approximately $58 million.  General Mills announced the sale agreement on September 3, 2015.

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

Contacts:
(Analysts) Jeff Siemon   763-764-2301
(Media) Tom Forsythe   763-764-6364


About General Mills
General Mills is one of the world's leading food companies, operating in more than 100 countries around the world.  Its brands include Cheerios, Fiber One, Haagen-Dazs, Nature Valley, Yoplait, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki and more.  Headquartered in Minneapolis, Minnesota., USA, General Mills had fiscal 2015 worldwide sales of US $18.7 billion, including the company's US $1.1 billion proportionate share of joint-venture net sales.