UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| 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 | |