General Mills, Inc. - GIS STOCK NEWS

General Mills (NYSE: GIS) has announced its agreement to acquire TNT Crust, a company specializing in frozen pizza crusts. This move supports General Mills' Accelerate strategy and strengthens its position in the growing frozen baked goods sector. TNT Crust, which reported approximately $100 million in net sales for 2021, is expected to enhance General Mills' scale and market presence. The acquisition includes three manufacturing facilities and will be funded through cash on hand and short-term borrowings, pending regulatory approval.

General Mills (NYSE: GIS) has appointed Karen Wilson Thissen as its new general counsel and corporate secretary, effective June 6, 2022. Thissen brings 29 years of legal experience, previously serving at Ameriprise Financial as general counsel and executive vice president. She succeeds Richard Allendorf, who will retire in August 2022. Jeff Harmening, CEO, praised Thissen's global legal expertise and leadership skills, asserting that her addition aligns with General Mills’ growth strategy.

Box Tops for Education celebrates Teacher Appreciation Month with a special promotion throughout May. Users can earn $5 for a school by downloading the app and using the referral code TEACHERSMAKEUSBETTER upon registering and scanning a receipt by May 31, 2022. Partnering with Quinta Brunson of "Abbott Elementary," Box Tops will donate $20,000 to Andrew Hamilton Middle School in Philadelphia. Since 1996, the program has raised over $945 million for K-8 schools, aiding in educational resources. This initiative aims to inspire continuous support for educators.

General Mills (NYSE: GIS) will host a webcast on May 4, 2022, focusing on its Environmental, Social, and Governance (ESG) commitments under the Force for Good pillar of its Accelerate strategy. The event will include a pre-recorded presentation and a live Q&A with management, highlighting the company’s progress in sustainability and community engagement. The session starts at 8 a.m. CT, and materials can be accessed via www.generalmills.com/investors.

General Mills' 2022 Global Responsibility Report highlights the company's commitment to sustainability and community support. Key achievements include enrolling 115,000 acres in regenerative agriculture, donating $98 million to charities, and spending $318 million with diverse suppliers in the U.S. The company aims for one million acres in regenerative farming by 2030 and seeks to source 100% renewable electricity by 2030. General Mills emphasizes its role in addressing climate change and enhancing food security for communities.

General Mills (NYSE: GIS) will host a webcast for its Environmental, Social and Governance (ESG) investor event on May 4, 2022, starting at 7 a.m. CT. This event will focus on the Force for Good aspect of the company’s Accelerate strategy, showcasing its commitments in various areas such as planet, people, community, and food. Participants can access the webcast and further materials at www.generalmills.com/investors. The details on these initiatives will also draw from the upcoming 2022 Global Responsibility Report.

General Mills announced a $15 million investment through its venture capital arm, 301 INC, into two early-stage funds: Fearless Fund and Supply Change Capital. This move aims to enhance minority and female representation in food entrepreneurship by bridging the capital gap for underrepresented founders. Since 2021, 80% of 301 INC's investments have targeted minority-led businesses. The initiative aligns with General Mills' commitment to improving equity in food access and opportunities, highlighting its focus on supporting sustainable and diverse food businesses.

General Mills (GIS) reported third-quarter results for fiscal 2022, with net sales at $4.5 billion, reflecting a 4% increase in organic net sales. Operating profit decreased 1% to $815 million, while diluted EPS rose 13% to $1.08. The company raised its fiscal 2022 guidance, anticipating organic net sales growth of approximately 5%. Challenges included a decline in gross margin to 30.9% due to rising input costs. The Pet segment saw strong growth (30% net sales increase), while the International segment faced a decline (23% decrease in net sales). Overall, General Mills shows resilience in a volatile market.

General Mills has launched a sweepstakes for Totino’s products at Walmart, running from April 1 to May 31. Customers purchasing select Totino’s Pizza Rolls and Party Pizza packs can win a Nintendo Switch prize pack or various Nintendo games. The grand prize includes a Nintendo Switch – OLED Model, Joy-Con controller, and two popular games, valued at approximately $579.95. In total, forty grand prizes and one hundred first prizes are available, with all participants receiving 100 My Nintendo Platinum Points. This initiative aims to enhance customer engagement and drive sales.