GIS - General Mills sells Helper and Suddenly Salad businesses to Eagle Family Foods Group for $610M

General Mills (NYSE:GIS) is selling its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Company, in a cash transaction valued at approximately $610M. The transaction is expected to close in 1Q23, subject to approval. “With this divestiture, we are continuing to reshape our portfolio and advance our Accelerate strategy,” said Jon Nudi, General Mills Group President, North America Retail. “This transaction improves our North America Retail segment’s growth profile and allows us to increase our focus on brands and categories where we have the best opportunities to drive profitable growth.” Helper and Suddenly Salad businesses booked sales of approximately $235M in FY2021. The company expects the divestiture to be dilutive to its adjusted EPS in the range of approximately 10 to 11 cents in the first 12 months after closing, before factoring in any potential benefit from the

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General Mills sells Helper and Suddenly Salad businesses to Eagle Family Foods Group for $610M