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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.
Oui by Yoplait launches a new initiative encouraging women to "Say Oui" to self-care through a partnership with Hello Sunshine and Eve Rodsky. This collaboration features a video series promoting creative expression, highlighting women like Tonia, Natalie, and Rachel who prioritize their passions. The brand also announces updated yogurt recipes with 20% more fruit, enhancing its creamy texture. General Mills, the parent company, generated $19 billion in sales last fiscal year, aiming to further boost shareholder value through innovative strategies.
Yoplait, in collaboration with Box Tops for Education, is renovating the library at Dolores Huerta Elementary School in Lennox, California. This initiative aims to empower women and enhance students' educational experiences. Principal Maria Castellanos is pivotal in this effort, ensuring students thrive even post-pandemic. The renovated library will feature an amphitheater, a reading corner, and diverse books, many in Spanish. Yoplait encourages consumers to support local schools through Box Tops to help fund educational resources.
This back-to-school season, Nature Valley launches the first-ever rewards program on TikTok for families practicing sustainability. Through September 11, families can share their eco-friendly efforts using the hashtag #ReTokForNature to receive a promo code for free back-to-school items at the new ReTok Shop. Partnering with Stephen 'tWitch' Boss and Allison Holker-Boss, the initiative includes exclusive items from brands like L.L.Bean. This program aims to encourage families to engage in sustainable practices while shopping for necessary items.
General Mills has reintroduced its iconic Monster Cereals, including Franken Berry, Count Chocula, Boo-Berry, and the long-awaited Frute Brute, with limited-edition KAWS-designed packaging. This marks Frute Brute's first appearance since 2013. The seasonal release emphasizes innovation with each box featuring collectible prizes by KAWS, appealing to both cereal lovers and collectors. General Mills aims to engage fans with unique designs while celebrating the legacy of these fan-favorite cereals, which have been around for over 50 years.
General Mills has partnered with ALUS to promote regenerative agriculture in Manitoba and Saskatchewan, Canada, with a $2.3 million investment. This funding supports farmer mentorship and the Growing Roots pilot program, focused on soil health. The initiative aligns with General Mills' goal of advancing regenerative agriculture on one million acres by 2030 and achieving net zero emissions by 2050. ALUS aims to enhance ecosystem services, benefiting local communities and the environment. The collaboration underscores General Mills' commitment to sustainability and support for local farmers.
General Mills introduces CinnaFuego Toast Crunch, a unique cereal that blends sweet cinnamon with fiery spice. This new product, set to launch on August 12 exclusively at Walmart.com, aims to enhance snack time with its combination of flavors. The cereal retains its original appearance and includes a resealable pouch for convenience. General Mills generated $19.0 billion in net sales for fiscal 2022, reinforcing its strong brand portfolio.
The 51st Pillsbury Bake-Off® Contest is now open, introducing a unique 'Ovens Off' challenge for participants. For the first time, contestants will create recipes without using any ovens, utilizing appliances like air fryers and grills. The grand prize includes $50,000, along with an additional $50,000 donation to a charity of the winner's choice. This contest reflects rising cooking trends and consumer preferences for non-oven recipes. Entries are accepted until August 14, with winners announced on October 3.
Eagle Foods has successfully acquired the Helper and Suddenly Salad brands from General Mills (NYSE: GIS) as of July 5, 2022. This strategic acquisition, first announced on May 25, aims to diversify Eagle's food offerings and enhance its center store category for retailers. CEO Bernard Kreilmann highlights a commitment to growth by investing in category development, R&D, and marketing, aiming to provide families with more convenient meal options. The acquisition adds to Eagle's existing platforms in snacks, baking, and meals.
General Mills has finalized the sale of its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group for approximately $610 million. This deal includes brands that generated net sales of about $235 million in fiscal 2021. General Mills has already incorporated this transaction into its Fiscal 2023 guidance shared on June 29, 2022. The company, headquartered in Minneapolis, reported fiscal 2022 net sales of $19.0 billion.
General Mills declared a 6% dividend increase reflecting confidence in its performance. For the full year, net sales rose 5% to $19 billion, while operating profit increased 11% to $3.5 billion. In the fourth quarter, net sales jumped 8% to $4.9 billion and diluted EPS surged 98% to $1.35. The company anticipates 4%-5% organic net sales growth in fiscal 2023, despite headwinds from inflation and supply chain issues. Strategic acquisitions and divestitures aim to enhance growth, although they may reduce EPS growth by 3%.
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