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General Mills, Inc. (NYSE: GIS) is a global leader in the food processing sector, headquartered in Minneapolis, Minnesota. Operating in more than 100 countries, General Mills markets an extensive portfolio of over 100 consumer brands including household names such as Cheerios, Yoplait, Betty Crocker, Pillsbury, Häagen-Dazs, Nature Valley, Green Giant, Old El Paso, Progresso, Cascadian Farm, and Muir Glen.
The company produces a wide range of food products categorized into snacks, cereals, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. In fiscal 2023, a significant 81% of the company's revenue was generated from the United States. However, General Mills maintains a robust international presence with operations in Canada, Europe, Australia, Asia, and Latin America.
General Mills' consumer base primarily comprises retail stores, but the company also provides products to foodservice channels and the commercial baking industry. The company is well-regarded for its commitment to quality, innovation, and sustainability, making it a trusted name in households worldwide.
Recent achievements include the expansion of its pet food line, particularly through the Blue Buffalo brand, which has seen substantial growth. Additionally, the company has invested in sustainable sourcing and production techniques, ensuring long-term environmental stewardship. Key partnerships with various retailers and distributors have further cemented General Mills' position as a market leader.
General Mills continues to focus on health-oriented products, meeting the growing consumer demand for nutritious and convenient food options. The company’s strategic initiatives and ongoing projects reflect its dedication to adapting to changing market dynamics while maintaining its legacy of delivering high-quality food products.
General Mills (NYSE: GIS) has announced its latest quarterly dividend payment of $0.60 per share. The dividend will be paid on February 3, 2025, to shareholders of record as of January 10, 2025. This announcement maintains the company's remarkable track record of 126 years of uninterrupted dividend payments, including those made by its predecessor company.
General Mills (NYSE: GIS) has announced a $1.45 billion acquisition of Whitebridge Pet Brands' North American premium Cat feeding and Pet treating business from NXMH. The acquisition includes the Tiki Pets and Cloud Star brands, which generated approximately $325 million in U.S. Nielsen-measured retail sales in the past twelve months. This marks General Mills' fifth pet category acquisition, following Blue Buffalo (2018), Nudges, Top Chews, and True Chews (2021), Fera Pets (2023), and Edgard & Cooper (2024). The deal includes two manufacturing facilities in Joplin, Missouri, and will be funded through cash and new debt. The transaction is expected to close in Q3 fiscal 2025.
Old El Paso™ is partnering with football's Watt brothers (J.J., T.J., and Derek) for a new content series called 'Watt Can Taco'. The series showcases a competition between T.J. and Derek, judged by J.J., where they transform popular game-day foods into tacos using Old El Paso products.
The campaign, launching just before National Taco Day on October 4, aims to inspire football fans to include Old El Paso in their game-day meal rotations. The content series will be available on digital video, TikTok, Instagram, and the Old El Paso website.
The campaign features creative taco ideas like Meaty Pizza Taco, Philly Cheesesteak Taco, and Chicago Style Hot Dog Taco Bowl. Old El Paso offers a range of products including seasonings, sauces, soups, taco shells, and taco kits to help fans recreate these unique taco creations at home.
Totino's Pizza Rolls has launched a new ad campaign featuring comedians Tim Robinson and Sam Richardson. The campaign, titled 'Chazmo Goes Home', showcases the brand's value proposition of 10 Pizza Rolls for about $1. The comedic spots follow the duo's encounter with Chazmo, a friendly alien who has eaten their Totino's Pizza Rolls stash.
Created with writer Zach Kanin and director Alice Mathias, known for their work on 'I Think You Should Leave' and 'Detroiters', the campaign brings together a team of comedic talents. The ads will air on streaming platforms, online video, and social media during the football season. This follows Totino's successful ad campaign during the 2024 playoff season and its role as Presenting Sponsor at the 2024 Big 12 Football Media Day.
General Mills (NYSE: GIS) has announced its quarterly dividend declaration. The company's Board of Directors has declared a dividend of $0.60 per share, maintaining the current rate. This dividend will be payable on November 1, 2024, to shareholders of record as of October 10, 2024.
Notably, General Mills and its predecessor company have maintained an uninterrupted dividend payment streak for 126 years. This long-standing commitment to shareholder returns underscores the company's financial stability and dedication to rewarding its investors consistently over time.
General Mills (NYSE: GIS) reported Q1 fiscal 2025 results with net sales down 1% to $4.8 billion. Diluted EPS decreased 10% to $1.03, while adjusted diluted EPS fell 2% to $1.07 in constant currency. The company reaffirmed its full-year fiscal 2025 outlook, expecting organic net sales to range between flat and up 1%. Key segment results include:
- North America Retail: Net sales down 2% to $3.0 billion
- North America Pet: Net sales down 1% to $576 million
- North America Foodservice: Net sales flat at $536 million
- International: Net sales flat at $717 million
General Mills also announced plans to sell its North American Yogurt business for $2.1 billion to Lactalis and Sodiaal, expected to close in calendar 2025.
REESE'S PUFFS cereal has announced a collaboration with basketball star and fashion icon Angel Reese. The partnership includes -edition cereal boxes featuring Angel, with four unique back-of-box designs available at retailers nationwide for $5.69. This collaboration celebrates Angel's dual talents in basketball and fashion, mirroring the brand's classic dualities like chocolate and peanut butter.
Angel Reese, a forward with Chicago and rookie sensation, expressed excitement about fulfilling her childhood dream of being on a cereal box. The partnership will extend beyond the cereal boxes, with an upcoming fashion collaboration teased for later this year. This move aligns with REESE'S PUFFS' strategy of partnering with influential figures across various cultural domains, reinforcing the brand's position at the forefront of culture.
General Mills (NYSE: GIS) has announced agreements to sell its North American Yogurt business to Lactalis and Sodiaal for $2.1 billion USD. The deal includes brands like Yoplait, Liberté, Go-Gurt, Oui, Mountain High, and :ratio, along with manufacturing facilities in Tennessee, Michigan, and Québec. The North American Yogurt business contributed approximately $1.5 billion USD to General Mills' fiscal 2024 net sales.
The transactions are expected to close in calendar 2025, subject to regulatory approvals. General Mills anticipates the combined transactions will be approximately 3 percent dilutive to adjusted earnings per share in the first 12 months after the close. The company plans to use the net proceeds for share repurchases.
Annie's, a brand under General Mills (GIS), has unveiled a 'Now Cheesier' Mac & Cheese recipe, enhancing its popular Shells & White Cheddar and Shells & Real Aged Cheddar varieties with more real cheese. This product upgrade, part of Annie's 'Promise For Better' campaign, aims to create more joyful mealtimes with quality ingredients. To promote the launch, Annie's introduced a TikTok effect called 'Say (Extra) Cheese,' offering fans a chance to win free boxes of the new product. The enhanced Mac & Cheese is available nationwide from September at an MSRP of $2.59.
General Mills (NYSE: GIS) reaffirmed its fiscal 2025 financial outlook at the 2024 Barclays Global Consumer Staples Conference. The company expects organic net sales to range between flat and up 1 percent, adjusted operating profit to range between down 2 percent and flat in constant currency, and adjusted diluted EPS to range between down 1 percent and up 1 percent in constant currency. CEO Jeff Harmening highlighted improving retail sales trends across key categories and emphasized the company's focus on accelerating organic net sales growth, generating cost savings, and maintaining strong cash generation. General Mills continues to execute its Accelerate strategy, prioritizing core markets, global platforms, and local gem brands for profitable growth.
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