MINNEAPOLIS — General Mills, Inc. plans to close its Carson, Calif., yogurt manufacturing facility in the third quarter of fiscal 2020 as part of a broader set of restructuring actions approved by the Minneapolis-based company. Established in 1979, the Carson facility makes Yoplait and Mountain High yogurt products.
In a filing Feb. 15 with the U.S. Securities and Exchange Commission, General Mills said restructuring efforts are being undertaken “to drive efficiencies in targeted areas of our global supply chain by consolidating production and optimizing our labor, logistics and manufacturing platforms.”
“We expect to incur approximately $130 million of net expenses related to these actions, including approximately $25 million of severance and approximately $105 million of other exit costs and project-related costs, primarily asset write-offs,” the company noted in the S.E.C. filing. “We expect to pay approximately $30 million of net cash related to these actions. We expect these actions to be completed by the end of fiscal 2021.”