General Mills Announces Agreement With Pennant Foods to Sell a Portion of its Bakeries & Foodservice Frozen Dough Business

03/11/2009

General Mills announced today it has signed an agreement to sell a portion of its Bakeries & Foodservice frozen dough business to Pennant Foods, a member of the Fresh Start Bakeries Family of Companies, which operates more than 25 bakeries in nine countries on four continents. The sale includes four plants located in Bakersfield, Calif; Hazleton, Penn; Montreal, Canada; and Vinita, Okla.

The transaction is expected to be completed by the end of the fiscal year. General Mills acquired the four facilities in 2001, as part of the Pillsbury acquisition.

About General Mills
One of the world's leading food companies, General Mills operates in over 100 countries and markets more than 100 consumer brands, including Cheerios, Häagen-Dazs, Nature Valley, Betty Crocker, Pillsbury, Green Giant, Old El Paso, Progresso, Cascadian Farm, Muir Glen, and more. Headquartered in Minneapolis, Minnesota, U.S.A., General Mills had fiscal 2008 global net sales of US$14.9 billion, including the company’s $1.2 billion proportionate share of joint venture net sales. Visit www.generalmills.com.

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For More Information, Contact:

Heidi Geller
General Mills
763-764-6364