General Mills to close three US factories to cut costs, improve productivity.

General Mills plans to close three factories in the US by the end of 2029 as part of its cost-cutting and productivity improvement efforts. The closures include a pizza-crust facility in Missouri and two pet-food plants in Joplin, acquired through recent acquisitions. The company expects to incur $82m in restructuring charges and will transition production to other facilities. The closures are part of General Mills' "global transformation" program to improve productivity and boost sales volumes.

General Mills, the renowned cereal and snacks company, has announced plans to close three manufacturing plants in Missouri by the end of 2029. This move is part of the company's broader cost-cutting and productivity improvement initiatives, as detailed in recent SEC filings. The closures include a pizza-crust facility in St. Charles and two pet-food plants in Joplin, which were acquired through recent acquisitions.

The company expects to incur $82 million in restructuring charges from these closures and the consolidation of assets at other facilities. Production at these locations will transition to other General Mills facilities, with the St. Charles pizza-crust facility set to shut by the end of June 2026 and the Joplin pet-food sites ending production by July 2026 Three General Mills plants for chop in push on costs^[1]General Mills closing these 3 Missouri plants in cost cutting move^[2].

General Mills' decision to close these facilities is part of its "global transformation" program, which aims to make the business more productive and boost sales volumes. The company has been facing challenges with declining sales, with net sales falling 2% to $19.5 billion in its last full financial year, and organic sales also declining 2% Three General Mills plants for chop in push on costs^[1].

In May, General Mills approved a multi-year global transformation initiative, anticipating spending about $70 million primarily for severance expenses. The company expects to save $100 million through targeted organizational actions, including plant closures and job cuts General Mills to close 3 Missouri plants as part of supply chain restructuring^[3].

These closures are not an isolated event, as several other prominent food and beverage companies have announced similar measures this year, including PepsiCo, Conagra Brands, and Post Holdings. General Mills' actions reflect a broader trend in the industry as companies seek to save money and boost margins in response to inflation and economic anxiety.