MINNEAPOLIS — General Mills, Inc. on May 31 announced it has sold its 60% stake in its joint venture in Israel to Bodan Holdings, its partner in the joint venture. The joint venture primarily marketed dough products in the region.
“This divestiture represents another step in General Mills’ accelerate strategy, which is centered on strategic choices about where to prioritize our resources to drive superior returns,” General Mills said. “Internationally, the strategy includes efforts to reshape the company’s portfolio for sustainable, profitable growth by increasing its focus on advantaged global platforms, which include Mexican food, super-premium ice cream and snack bars.”
The announcement comes a little more than six months after General Millsagreed to sellits European dough businesses to The Cerelia Group.