General Mills, a food major headquartered in Minnesota has now offloaded the company’s European dough business to The Cerelia Group, which is a producer of the ready-to-bake dough solutions, for the purpose of consolidating the company’s impetus in the region of North America, which has been the largest market of the company.
This move has been following the sale of the company’s European Yoplait ownership stake and in return, the company has now gained full control of the same brand in the country of Canada for the purpose of increasing the focus on the platforms of the brand that is having the greatest potential for the growth.
The deal with the Cerelia group has been estimated to close by the end of the year 2022, and all the pending approvals of the regulatory, along with the brands like Jus-Rol and Knack & Back.
The company said, internationally, this strategy has been including the efforts for reshaping the portfolio of the company for the profitable and sustainable growth by increasing the focus of the company in the global platforms, which is also including the snacks bars, Mexican Food and super-premium ice cream.
In March 2021, Cerelia Group has acquired US Waffle based in South Carolina, which has been a processor of the pancakes and private label waffles, and the company has also established a facility in the region of Ohio for the process of accommodating the company’s rapid expansion and has also received a strategic investment from the company positioning Cerelia Group as one of the fastest growing bakery businesses in the region of North America.
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