General Mills wraps up sale of Brazil business

MINNEAPOLIS — Furthering its portfolio overhaul, General Mills Inc. has completed the sale of its Brazil business to food and beverage company Grupo 3corações.

The $153 million deal, announced in March, includes leading local brands Yoki — with six labels across 21 categories, such as snacks, desserts, popcorn, side dishes, grains and cereals — as well as Kitano seasonings and Mais Vita soy beverages. Also part of the sale are production facilities in Pouso Alegre and Campo Novo do Parecis. Minneapolis-based General Mills said the Brazil operation generated net sales of $350 million in fiscal 2025.

Under its Accelerate strategy, General Mills has been reshaping its product roster to focus on brands and platforms offering more profitable long-term growth potential. The company said the divestiture of the Brazil business will raise its operating profit margin and enable its international segment to better focus on priority global platforms, such as super-premium ice cream, Mexican food, snack bars and pet food.

General Mills noted that, since fiscal 2018, it has turned over about a third of its net sales base via acquisitions and divestitures. Besides the sale of the Brazil operation, divestitures have included the $2.1 billion sale of its US and Canadian yogurt businesses — with brands such as Yoplait, Liberte, Go-Gurt, Oui, Mountain High and :Ratio — to the French companies Lactalis Group and Sodiaal in transactions that closed in 2025. This past June, General Mills also agreed to sell its Häagen-Dazs retail shops in mainland China to an investor group including Chinese tea beverage chain Ningji. On the acquisition side, General Mills closed its $8 billion purchase of Blue Buffalo Pet Products Inc. in 2018.

Eusébio, Brazil-based Grupo 3corações — Brazil’s largest coffee company — said the addition of the Yoki and Kitano brands “significantly expands” its industrial, logistics and commercial capabilities and extends its presence to more than 600,000 points of sale across the country. The company described Yoki as well-positioned in a range of categories — including microwave popcorn, farofa, potato sticks, flour, meal components and side dishes — and called Kitano “one of Brazil’s most-established brands in seasonings, herbs and spices.”

“We are completing a highly significant acquisition in our history while, at the same time, beginning a new chapter,” said Pedro Lima, president of Grupo 3corações. “Yoki and Kitano are beloved brands that have been part of the everyday lives of millions of Brazilian families for decades. We embrace this legacy with great respect and with the responsibility of caring for these brands, for the people who build them every day, and for the trust they have established with consumers, while creating the conditions for them to continue growing.”

Grupo 3corações said the addition of the two manufacturing plants in Pouso Alegre and Campo Novo do Parecis expand its production network in Brazil to 15 facilities. The purchase from General Mills also includes an administrative office in São Paulo.

“We were born from coffee, and it was through coffee that we built our relationship with millions of Brazilian families,” Lima added. “Over time, we expanded into new categories and consumption occasions, and the arrival of Yoki and Kitano accelerates this journey. We are bringing together strong brands, talented people, expertise and complementary capabilities — an important step toward establishing ourselves as one of Brazil’s leading food companies.”