MINNEAPOLIS (AP) _ The Pillsbury Co., which is being acquired by General Mills Inc., on Thursday put its U.S. retail dessert and baking mix division and its Hungry Jack potato and shelf-stable breakfast businesses up for sale.

The sale would include a licensing arrangement for the use of the Pillsbury and Hungry Jack brands.

The businesses combined contributed more than $500 million in sales during Pillsbury's most recent fiscal year ended June 2000, the company said.

General Mills and Pillsbury previously had announced the intention to sell certain overlapping assets as part of General Mills' acquisition of Pillsbury from Diageo PLC. In addition to the dessert and baking mixes, Pillsbury's Green Giant canned vegetable business in the United States will be sold.

The acquisition, contingent on completion of the sale of those businesses, is under review by the U.S. Securities and Exchange Commission and the Federal Trade Commission and must be approved by General Mills shareholders. It is expected to close by the end of the year.

The merger would create the world's fifth-largest food company and the third-largest in North America.