General Mills (NYSE: GIS) plans $82M supply chain restructuring through 2029

Rhea-AI Filing Summary

General Mills, Inc. approved a multi-year organizational initiative to increase the competitiveness of its supply chain. The company plans to close its North America Foodservice pizza crust manufacturing facility in St. Charles, Missouri, close two North America Pet manufacturing facilities in Joplin, Missouri that were acquired in the Whitebridge Pet Brands acquisition, and consolidate assets at certain other facilities.

General Mills expects to incur approximately $82 million of restructuring charges, including about $64 million of asset write-offs and $18 million of other costs such as severance, of which roughly $17 million will be cash. The company plans to recognize $43 million of asset write-offs and $6 million of other costs in the second quarter of fiscal 2026 and expects these actions to be completed by the end of fiscal 2029.

Insights

Equity analyst – consumer & industrial operations

General Mills records $82M in multi-year restructuring to streamline its supply chain.

General Mills is restructuring parts of its supply chain, including closing a foodservice pizza crust facility in St. Charles, Missouri and two North America Pet facilities in Joplin, Missouri acquired with Whitebridge Pet Brands. The initiative also consolidates assets at other plants, signaling a shift of production to a more efficient footprint.

The company expects about $82 million of restructuring charges, largely non-cash, with $64 million in asset write-offs and $18 million in other costs such as severance. Around $17 million of the total is expected to be cash outflow. General Mills plans to recognize $43 million of asset write-offs and $6 million of other costs in Q2 of fiscal 2026, with the overall actions running through the end of fiscal 2029.

The impact on earnings will be front-loaded as these charges are recognized, while any longer-term cost benefits from a leaner supply chain are not quantified here. The filing notes that cost estimates and timing depend on several assumptions and that additional charges or cash expenditures could arise as the initiative progresses.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 25, 2025

General Mills, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-01185		41-0274440
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

Number One General Mills Boulevard Minneapolis, Minnesota		55426
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (763) 764-7600

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $.10 par value		GIS		New York Stock Exchange
0.125% Notes due 2025		GIS 25A		New York Stock Exchange
0.450% Notes due 2026		GIS 26		New York Stock Exchange
1.500% Notes due 2027		GIS 27		New York Stock Exchange
3.907% Notes due 2029		GIS 29		New York Stock Exchange
3.560% Notes due 2030		GIS 30A		New York Stock Exchange
3.600% Notes due 2032		GIS 32		New York Stock Exchange
3.850% Notes due 2034		GIS 34		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.05 Costs Associated with Exit or Disposal Activities.

On September 25, 2025, General Mills, Inc. approved a multi-year organizational initiative to increase the competitiveness of our supply chain. To consolidate capacity, improve our cost structure, and support this initiative, we approved (i) the closure of our North America Foodservice pizza crust manufacturing facility in St. Charles, Missouri, (ii) the closure of two of our North America Pet manufacturing facilities in Joplin, Missouri that we acquired in the Whitebridge Pet Brands acquisition, and (iii) the consolidation of assets at certain of our other facilities, pursuant to which we expect to incur approximately $82 million of restructuring charges, of which approximately $17 million will be cash. These charges are expected to consist of approximately $64 million of asset write-offs and $18 million of other costs, including severance. We expect to recognize $43 million of asset write-offs and $6 million of other costs, including severance, in the second quarter of fiscal 2026. We expect these actions to be completed by the end of fiscal 2029. The estimate of costs that we expect to record, and the timing thereof, are subject to several assumptions, and actual results may differ from current expectations. We may also record other charges or cash expenditures not currently contemplated due to events that may occur because of, or associated with, this organizational initiative.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 1, 2025

GENERAL MILLS, INC.
By:		/s/ Karen Wilson Thissen
Name:		Karen Wilson Thissen
Title:		General Counsel and Secretary

FAQ

What restructuring initiative did General Mills (GIS) approve on September 25, 2025?

General Mills approved a multi-year organizational initiative to increase the competitiveness of its supply chain, including closing a North America Foodservice pizza crust facility in St. Charles, Missouri, closing two North America Pet facilities in Joplin, Missouri, and consolidating assets at certain other facilities.

How much will General Mills (GIS) record in restructuring charges for this initiative?

General Mills expects to incur approximately $82 million of restructuring charges, consisting of about $64 million of asset write-offs and $18 million of other costs, including severance, with roughly $17 million of the total expected to be cash.

When will General Mills (GIS) recognize most of the initial restructuring charges?

General Mills expects to recognize $43 million of asset write-offs and $6 million of other costs, including severance, in the second quarter of fiscal 2026 as part of this restructuring initiative.

Which General Mills (GIS) facilities are being closed under this restructuring plan?

The plan includes closing the North America Foodservice pizza crust manufacturing facility in St. Charles, Missouri, and two North America Pet manufacturing facilities in Joplin, Missouri that were acquired in the Whitebridge Pet Brands acquisition.

When does General Mills (GIS) expect to complete its supply chain restructuring actions?

General Mills expects the restructuring actions related to this supply chain initiative to be completed by the end of its fiscal 2029.

Can the estimated restructuring costs for General Mills (GIS) change over time?

Yes. The company states that the estimated costs and timing depend on several assumptions, and it may record additional charges or cash expenditures related to this organizational initiative.