MINNEAPOLIS -- General Mills here has signed a letter of intent to sell Gorton's to Unilever United States, New York.
by General Mills in 1958, is one of the longest-established producers and marketers of frozen seafood, with a history dating back more than 140 years.
The proposed sale of Gorton's, which required different sales and distribution channels than the rest of General Mills' consumer food business, is said to be part of General Mills' corporate restructuring program, designed to sharpen the focus of its consumer foods strategy.
The restructuring includes separating into two independent public corporations -- one for consumer foods and one for restaurants. It's expected the two companies will become separate entities on or about June 1.
