General Mills has reached an agreement to sell its operations in Brazil as part of an ongoing effort to “reshape its portfolio,” company officials announced Tuesday.
The Minnesota-based food producer expects to complete the sale of the business to 3corações by the end of the year, subject to regulatory approval and other closing conditions. The transaction would include local brands, including Yoki and Kitano, as well as supply chain facilities in Pouso Alegre and Campo Novo do Parecis.
Terms of the proposed deal were not disclosed. The Brazil business contributed about $350 million to General Mills’ net sales in its 2025 fiscal year, the company said.
General Mills said the sale would bolster its operating margin and heighten the focus of its international division on “priority” platforms, including snack bars, Mexican foods, “super-premium” ice cream, and pet food.
The company said that the deal would also mean it has turned over nearly one-third of its overall portfolio since 2018.
