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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 has partnered with essie to promote self-care ahead of International Self-Care Day on July 24. The collaboration introduces 1,000 OuiFresh kits featuring six essie nail polishes inspired by Oui yogurt flavors, all in an upscale refrigerated tote. Consumers can enter the OuiFresh sweepstakes via Instagram until July 22. Self-care advocate Busy Philipps will share tips within the kits. Oui yogurt, made with whole milk and slow-cultured for eight hours, retails for $1.49 nationwide. General Mills, which owns Oui, reported fiscal 2021 net sales of $18.1 billion.
Old El Paso introduces new Tex-Mex meal kits, sauces, and a rice dish aimed at enhancing family mealtimes. These products promise to deliver restaurant-quality flavors at home in under 30 minutes, fostering family togetherness. The Burrito Bowl Kits offer three flavor options, while the Street Taco Kits capture food truck experiences. Additionally, squeeze sauces and Cilantro Lime Rice add zest to meals. Prices range from $1.89 to $3.99, making these items affordable. Available at major retailers nationwide, these offerings reflect Old El Paso's commitment to quality and convenience.
General Mills (NYSE: GIS) has acquired Tyson Foods' pet treats business for $1.2 billion in cash, which includes the brands Nudges, Top Chews, and True Chews. The acquisition aims to align with General Mills' Accelerate strategy and enhance its BLUE pet food portfolio. The acquired business generated over $240 million in net sales in the year leading up to April 3, 2021, and includes a manufacturing facility in Independence, Iowa.
General Mills (NYSE: GIS) reported its fiscal 2021 results with net sales at $18.1 billion, a 3% increase, while fourth-quarter net sales fell 10% to $4.5 billion due to an extra week last year and reduced consumer demand. Gross margins declined slightly, and operating profit was down 34%. For fiscal 2022, the company anticipates organic net sales will decline 1-3% and adjusted diluted EPS will be flat to down 2%. Total input cost inflation is expected at 7%. General Mills continues to execute its Accelerate strategy focused on sustainable growth and shareholder returns.
The General Mills Board of Directors has announced a quarterly dividend of $0.51 per share, reflecting a 4% increase from last year's $0.49. This dividend is payable on August 2, 2021, to shareholders of record as of July 9, 2021. General Mills has maintained uninterrupted dividend payments for 122 years, showcasing its commitment to returning value to shareholders. In fiscal 2020, the company reported net sales of $17.6 billion, along with an additional $1.0 billion from non-consolidated joint ventures.
General Mills (NYSE: GIS) will report its fiscal 2021 fourth quarter and full year results on June 30, 2021. A press release, management remarks, and supporting slides will be available that morning, followed by a webcast at 8:00 a.m. CT for Q&A. In fiscal 2020, General Mills achieved net sales of $17.6 billion, with an additional $1.0 billion from non-consolidated joint ventures. Interested parties can access the webcast and materials at www.generalmills.com/investors.
General Mills celebrates Memorial Day Weekend as a pivotal moment for families to gather after a year of isolation. A recent survey indicates many consumers are opting to buy fresh food and plan to continue cooking at home post-pandemic. The company suggests easy-to-make recipes for home gatherings, anticipating increased consumer interest in cooking. General Mills emphasizes its commitment to creating dishes that allow for enjoyable time with guests rather than being tied to the kitchen.
Nature Valley has taken a significant step in environmental sustainability by launching the first store drop-off recyclable wrapper for its Crunchy granola bar, approved by How2Recycle. Partnering with eco-friendly actor Zac Efron and Down to Earth, they aim to promote awareness of recycling practices. With 70% of Americans wanting to reduce plastic waste, this initiative targets 295 million potential recyclers. The company also aims for 100% recyclable packaging by 2025, encouraging other brands to join this movement.
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