General Mills Inc. (NYSE: GIS) announced it has entered into a definitive agreement to sell its business in Brazil to 3corações. The transaction includes a portfolio of local brands such as Yoki and Kitano.

The sale is expected to close by the end of calendar 2026, subject to regulatory approvals and other customary closing conditions, according to a company statement.

The divestiture encompasses General Mills' business operations in Brazil, including supply chain facilities in Pouso Alegre and Campo Novo do Parecis. The Brazil business contributed approximately $350 million to General Mills' fiscal 2025 net sales.

The Minneapolis-based company stated the sale aligns with its strategy to reshape its portfolio for long-term growth. The transaction is expected to increase the company's operating profit margin and allow its International segment to focus on what it calls priority global platforms, including super-premium ice cream, Mexican food, snack bars, and pet food.

Upon completion of the sale, General Mills will have turned over nearly one-third of its portfolio through acquisitions and divestitures since fiscal 2018, the company said.

Goldman Sachs served as the exclusive financial advisor to General Mills for the transaction, with KLA Avogados serving as legal advisor.

General Mills generated fiscal 2025 net sales of $19 billion, according to the company statement.