General Mills offloads Brazil assets to Grupo 3corações

Group 1 - General Mills has sold its Brazilian business to Grupo 3corações, including two production facilities and brands like Yoki and Kitano [1][2] - The deal is valued at R800 million ($48 million) and is expected to close by the end of the 2026 calendar year, pending regulatory approval [2] - The assets generated approximately $350 million in revenue for General Mills in the last year, contributing to the company's total revenue of $19.49 billion [2] Group 2 - Grupo 3corações aims to expand its food offerings with the acquisition of Yoki and Kitano, enhancing its presence in the Brazilian market [4] - General Mills is reshaping its portfolio to focus on long-term profitable growth as part of its Accelerate strategy launched in 2021 [4][5] - The transaction is expected to improve General Mills' operating profit margin and align its international segment with priority global platforms [5] Group 3 - General Mills has recently adjusted its outlook for organic sales growth, forecasting a decline of 1.5% to 2% for the year [6] - The company previously estimated organic sales could range from a decline of 1% to an increase of 1% [6]