General Mills Cuts Investment In Global Venture That Did Business In Russia
MINNEAPOLIS (WCCO) -- General Mills is joining other large corporations in halting business in Russia following the Kremlin's invasion of Ukraine.
While the Minneapolis-based cereal maker says that it does not have any wholly-owned operations in Russia, it is stopping advertising and capital investment in a joint venture with Nestle called Cereal Partners Worldwide, which did business in Russia.
Cereal Partners Worldwide's sales in Russia represent less than 1% of total General Mills sales, the company said, adding that is has no employees, distributors or plants in the country.
In a statement, General Mills said that it is "deeply concerned" over the war in eastern Europe and the growing refugee crisis.
"We are actively working on ways to help those impacted by this war through donations of food and water, including donations to food banks and local charities to help those in need in Ukraine and the neighboring countries," the company's statement said.
Other multi-national corporations to stop business with Russia in recent days include McDonald's, General Electric, Netflix, and St. Paul-based 3M.