General Mills Inc. has finalized the sale of its Brazil business to Grupo 3corações, a food and beverage company, as part of its ongoing portfolio transformation. The $153 million transaction, which was announced earlier this year, includes popular local brands such as Yoki, Kitano, and Mais Vita. With this sale, General Mills aims to enhance its operating profit margin and refocus its international segment on key global platforms like super-premium ice cream, Mexican food, snack bars, and pet food.
Grupo 3corações, known as Brazil’s largest coffee company, expressed excitement over the acquisition of Yoki and Kitano, stating that it significantly expands their industrial, logistics, and commercial capabilities. The addition of these brands will allow Grupo 3corações to reach over 600,000 points of sale nationwide and strengthen its presence in various product categories.
Grupo 3corações emphasized its commitment to preserving the legacy of Yoki and Kitano, which have been integral parts of Brazilian households for many years. The company plans to leverage its expertise and resources to ensure the continued growth and success of these beloved brands.
Furthermore, Grupo 3corações highlighted the strategic importance of acquiring the two manufacturing plants in Pouso Alegre and Campo Novo do Parecis, which will expand its production network to a total of 15 facilities across Brazil. This acquisition marks a significant milestone for Grupo 3corações as it aims to establish itself as a leading food company in the region.