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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 has achieved a perfect score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index for the 16th consecutive year, highlighting its commitment to LGBTQ+ workplace equality. The company supports inclusive policies and offers programs through its employee network, Betty’s Family, which engaged over 1,000 employees in various initiatives. General Mills maintains a focus on creating equitable workplaces, guided by its Accelerate strategy that emphasizes brand building and innovation. The full report is accessible online.
General Mills (NYSE: GIS) announces the retirement of Richard Allendorf as senior vice president, general counsel, and secretary, effective August 2022. Allendorf, who joined the company in 1998, has significantly impacted the organization through his strategic legal counsel and leadership. CEO Jeff Harmening commended Allendorf's contributions, highlighting his role in fostering a culture of inclusion and supporting the board of directors. General Mills, headquartered in Minneapolis, reported net sales of $18.1 billion in fiscal 2021, underscoring its position in the food industry.
General Mills is celebrating American Heart Month by reintroducing heart-shaped Cheerios to promote a heart-healthy lifestyle. Partnering with Buzz Bee and Ice-T, the brand is launching the 'Pour Your Heart Into It' workout series to encourage fun and engaging physical activity. Cheerios will feature limited-edition heart shapes across flavors and offer promotional giveaways. The campaign emphasizes the importance of diet and exercise as enjoyable elements of a healthy routine, especially amid rising heart disease concerns in the U.S.
The Board of Directors of General Mills (NYSE: GIS) has declared a quarterly dividend of
Cinnamon Toast Crunch has unveiled its Cinnamoji Toast Crunch, a limited-edition cereal featuring Cinnamoji faces on each square piece. This unique product launches nationwide this month. Additionally, fans can participate in a sweepstakes for a personalized Cinnamoji box. Notable celebrity-themed cereal boxes will feature Chloe Kim, Justin Jefferson, Leslie Grace, Manuel Turizo, and SpongeBob SquarePants. Chloe Kim will kick off the promotions on January 27, including a special Go-GURT product. The campaign continues with new celebrity boxes soon.
General Mills (NYSE: GIS) announced it received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to 2 million shares of its stock at $65.50 per share, which is 4.48% below its closing price of $68.57 on January 7, 2022. General Mills advises shareholders not to tender their shares, emphasizing that TRC is not affiliated with the company and the offer price is below market value. The offer's conditions include that the stock price must not decrease and TRC must secure financing.
General Mills and Chiquita are promoting affordable nutrition with their campaign 'Go Bananas for Breakfast!'. A balanced breakfast of Big G cereal, a Chiquita banana, and Yoplait yogurt costs just over
General Mills reported a 6% increase in net sales to $5.0 billion for Q2 2022, while organic net sales rose 5%. However, operating profit fell 13% to $800 million, mainly due to input cost inflation and supply chain disruptions. Diluted EPS was $0.97, down 13%. The company updated its fiscal 2022 outlook, anticipating organic net sales growth of 4-5% and constant-currency adjusted operating profit decline of 1-4%, impacted by higher costs and the divestiture of European Yoplait.
General Mills has appointed Doug Martin as the new chief brand and disruptive growth officer, effective January 3, 2022. Martin, who has been with the company for 15 years, previously led its North America Dairy unit and has been responsible for successful brand innovations. In his new role, he will oversee global brand building and emergent business innovation. Dana McNabb, chief strategy and growth officer, emphasized the importance of combining brand and growth leadership to enhance relevance and drive long-term growth.
General Mills and UNCF will host the 2022 Annual Dr. Martin Luther King Jr. Holiday Breakfast on
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