General Mills Sells Hamburger Helper, Suddenly Salad Brands for $610M

General Mills Sells Hamburger Helper, Suddenly Salad Brands for $610M

The Golden Valley-based food giant plans to sell the iconic brands to an Ohio-based food company.

Golden Valley-based General Mills Inc. on Wednesday announced that it has inked a deal to sell its Helper and Suddenly Salad brands for $610 million. The buyer is Cleveland, Ohio-based Eagle Family Food Group.

The Helper line includes the well-known Hamburger Helper brand, as well as Chicken Helper and Tuna Helper. In General Mills’ 2021 fiscal year, the Helper and Suddenly Salad brands produced $235 million in net sales for the company.

In a press release issued Wednesday, General Mills group president of North American retail Jon Nudi said the move is aimed at enabling the Minnesota company to expand its portfolio and focus on brands “where we have the best opportunities to drive profitable growth.”

According to General Mills’ 2021 annual report, the company’s North American retail segment generated nearly $11 billion in net sales, or 60 percent of the company’s total net sales.

Over the years, General Mills has continued to buy and sell a number of business units. Earlier this month, General Mills announced an agreement to acquire Wisconsin-based frozen pizza crust company TNT Crust, which logged net sales of about $100 million last year. Last November, General Mills sold its European dough business to France-based Cerelia.

General Mills wrapped up one of its largest acquisitions in recent history in July of 2021, when it acquired Tyson Food’s pet treat business for $1.2 billion. General Mills leaders have said that these transactions are part of the company’s larger “Accelerate” restructuring process, a plan that has included the elimination of hundreds of jobs around the world.

Subject to regulatory approval, the transaction is expected to close in early 2023.