General Mills, Pillsbury will unload brands

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General Mills and Pillsbury on Monday announced plans to sell General Mills' Robin Hood flour business and Pillsbury's dessert and specialty product lines to International Multifoods Corp. for $305 million. The sale of the brands, including Martha White desserts and baking mixes and Hungry Jack breakfast products, is necessary for the closing of the merger of the two food giants, which was announced in July. International Multifoods, Minnetonka, Minn., has in the past focused its efforts mainly on food service and food distribution, but with this deal, it "will become more of a real packaged food company," said Prudential Securities analyst Jeff Kanter.

Copyright February 2001, Crain Communications Inc.

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