General Mills offloads Brazil business as sales dip
General Mills is selling its Brazilian business for approximately $154 million as part of a strategy to focus on growing segments like pet food and premium ice cream, and to improve margins. This divestiture comes as the company faces sluggish revenue, missed profit expectations in its third quarter, and declining consumer sentiment, impacting sales of products like Totino's and yogurt. The company plans to continue refining its portfolio, having turned over nearly a third of it since 2018.
https://www.startribune.com/general-mills-earnings-third-quarter-brazil-business-sell-focus-growth-pet-food-protein-sales-dip/601599408