Less than one year after buying the facilities from Whitebridge Pet Brands, General Mills has announced it will close the two Joplin plants.
The plants will close early next summer, according to a report in the Minnesota Star-Tribune.
General Mills closed the deal on Whitebridge Pet Brands in December 2024, paying $1.45 billion.
The company is also closing, a pizza crust plant in St. Charles.
The company announced its plans in a filing with the Securities and Exchange Commission:
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.
11 comments:
They are just moving the current products and team to Blue Buffalo so they only have one Joplin pet food plant to worry about logistics for.
Are we great again yet?
MAGA VOTED FOR THIS
Trump gets a new ballroom, you get laid off.
In July unemployment increased to 4.2%. In August we saw a significant slowdown in job creation, with only 22,000 non-farm jobs added to payrolls. And early reports are indicating 32,000 jobs were lost in September. I personally know multiple people who have lost their jobs as a direct result of the Trump tariffs.
Buckle up folks, Trump's just getting started destroying our country.
You are foolish if you think this is Trump's fault.
Many people try to blame him for China not buying soybeans too!
As someone who used to work for them , General Mills was buying and closing plants years ago. Not Trumps fault.
You’re talking about a company that devours the competitions businesses, and then shuts them down! Think Walmart! That’s just bad business for the employees!
A bad economy is deliberately in place for the purpose of overall suppression of rights and increased financial burden on the American public. This is the blueprint of a dictatorship over the people.
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