General Mills: target reduced after sale in Canada

(CercleFinance.com) - General Mills announced on Monday evening that it had finalised the sale of its yogurt business in Canada to the Sodiaal group, an operation which has led it to revise its profit forecasts for the current financial year downwards.


With this change in scope, the owner of the Cheerios, Nature Valley, Häagen-Dazs and Old El Paso brands, among others, now expects its adjusted EPS to fall by 2% to 4% in FY 2024/2025, instead of 1% to 3%.

In its press release, General Mills states that this target also takes into account the recent acquisition of the North American brands of animal feed company Whitebridge.

The sale of yogurt activities in Canada, finalized yesterday, involves several brands, including Yoplait and Liberté, as well as a production site based in Saint-Hyacinthe (Quebec).

As for the sale of its yoghurt operations in the United States to the French giant Lactalis, the group still expects the transaction to be completed later this year.


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