Benzinga | Nov 24, 2021 02:18PM EST

General Mills To Divest European Dough Businesses To Crlia For Undisclosed Sum

* General Mills Inc (NYSE:GIS) has agreed to sell its European dough businesses to C?r?lia, a ready-to-bake dough solutions provider. The financial terms were not disclosed.

* The proposed transactions would include General Mills branded and private label dough businesses in Germany, the U.K., and Ireland, including the Knack & Back and Jus-Rol brands.

* The company expects to close each of the transactions by the end of fiscal 2022.

* General Mills noted the sale is in line with the effort to reshape its portfolio for sustainable, profitable growth.

* Price Action: GIS shares are trading lower by 0.49% at $63.13 on the last check Wednesday.