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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.
Cheerios is encouraging Canadians to support Team Canada as the Olympic Games approach in under 70 days. Athletes will compete without overseas spectators, making local support crucial. To enhance this initiative, Cheerios is reintroducing its 'Cheer' boxes, allowing Canadians to write personalized messages to athletes aiming for gold. Available on Honey Nut, Multi-Grain, and Yellow Box Cheerios, these Cheer Cards are designed to boost morale and connect Canadians directly with their sports heroes.
General Mills (NYSE: GIS) will present at the BMO Global Farm to Market Conference on May 20, 2021, at 1:40 PM CT. CEO Jeff Harmening will discuss the company’s Accelerate strategy, its business performance, and the proposed acquisition of Tyson Foods' pet treats segment. The event will include a Q&A session with attendees. The presentation can be accessed via webcast on the General Mills investor website, with a replay available after the event. General Mills reported net sales of $17.6 billion in fiscal 2020.
General Mills (NYSE: GIS) has agreed to acquire Tyson Foods’ (NYSE: TSN) pet treats business for $1.2 billion cash, effectively costing $975 million after a $225 million tax benefit. This acquisition includes brands like Nudges, Top Chews, and True Chews, and is aimed at strengthening General Mills' pet platform. The business generated over $240 million in net sales in the past year. Funding will come from cash reserves and short-term borrowings, with expected earnings benefits after the deal closes in Q1 FY 2022.
:ratio has launched a new high-protein dairy snack, :ratio PROTEIN, offering 25G of protein and only 3G of sugar per single-serve cup, the highest protein content in the yogurt aisle. Available in five flavors, it aims to meet consumer health goals and expand the :ratio product line. The snack retails for $1.69 and includes a promotional giveaway of 300 limited-edition Dairy Dumbbells weighing 2.5 lbs. General Mills generated $17.6 billion in net sales for fiscal 2020.
General Mills (NYSE: GIS) is hosting its first-ever ESG investor event on May 25, 2021, via webcast. The event will include a pre-recorded presentation and a live Q&A, focusing on the company's initiatives in environmental sustainability, food security, community strengthening, and inclusion. The session will start at 7:00 a.m. CT and can be accessed at www.generalmills.com/investors. For further insights, attendees can review the 2021 Global Responsibility Report, released on April 22, 2021.
General Mills (NYSE: GIS) released its 2021 Global Responsibility Report, highlighting social and environmental progress for the 2020 fiscal year. Notable achievements include 100% sustainable sourcing of top ten priority ingredients, advancing regenerative agriculture on over 70,000 acres, and enabling 7 billion meals through donations. The report emphasizes commitments to diversity, community support, and environmental sustainability, reinforcing General Mills' mission to positively impact the planet and communities.
301 INC, the venture capital arm of General Mills, is investing up to $20 million in Pots & Co, a London-based food company known for its hand-crafted desserts. This investment aims to enhance Pots & Co's growth strategy, expanding its product range and distribution in the US, particularly on the West Coast and Rocky Mountain region. With significant past growth, from $2.8 million in 2014 to $19.5 million in 2020, this partnership is set to accelerate its US market presence.
General Mills (NYSE: GIS) reported third-quarter results for the period ending February 28, 2021, showing an 8% increase in net sales to $4.5 billion. Organic net sales rose 7%, driven by strong market share gains amid elevated at-home food demand. Net earnings increased 31% to $596 million, with diluted EPS climbing 30% to $0.96. The company announced a proposed divestiture of its European Yoplait operations and resumed share repurchases, indicating a solid balance sheet. General Mills aims to capitalize on ongoing consumer demand shifts with its Accelerate strategy.
General Mills has signed a memorandum of understanding to divest its 51% controlling stake in Yoplait S.A.S. to Sodiaal, a major French dairy cooperative. In return, General Mills will acquire full control of the Canadian Yoplait operations, which generated $290 million in fiscal 2020. The transaction, set to close by the end of calendar 2021, will streamline General Mills' focus on brands with greater growth potential, enhancing margins and growth profiles within its portfolio. The global net sales of Yoplait S.A.S. reached $740 million in fiscal 2020.
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