General Mills took a heavy charge tied to its retreat from Brazil, a fresh reminder of how hard the market has proved for foreign consumer brands.
Brazil · Markets
Key Facts
—The charge. General Mills reported a quarterly operating loss of $2.1bn, driven partly by a write-down on its Brazil exit.
—The sale. The US group is selling its Brazil business to local firm 3corações for about R$800m ($153m).
—The brands. The deal includes Yoki and Kitano, household names in Brazilian pantries.
General Mills tem prejuízo com baixa contábil de US$ 1 bi relacionada à saída do Brasil
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