General Mills Said to Weigh Sale of Progresso, Helper Brands (2)

Food giant General Mills Inc.is weighing selling a portfolio of brands including Progresso soup and Helper, according to people with knowledge of the matter.

General Mills is working with Goldman Sachs Group Inc. as it explores the potential divestiture, which also includes some smaller brands, the people said. The company is targeting to raise around $3 billion from the sale, according to the people, who asked not to be identified because the information is private.

The assets are likely to attract interest from private equity firms, the people said. Minneapolis-based General Mills could also consider selling other parts of ...