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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 (NYSE: GIS) has initiated an Exchange Offer to swap existing notes for new notes due 2051, with a total value not exceeding $750 million. The offer includes four series of existing notes totaling $2.1 billion and is contingent on at least $300 million in valid tenders. The deal features an early participation payment of $30 per $1,000 of existing notes and will close on February 4, 2021. Participation is limited to qualified institutional buyers and accredited investors, ensuring compliance with regulatory standards.
General Mills and got milk? have launched a historic partnership to promote the benefits of cereal and milk together. Limited-edition packaging featuring popular cereal characters will highlight this initiative. Key benefits include health: cereals provide whole grains, fiber, and essential vitamins, while milk is a top calcium source. Affordability: A serving costs around $0.50. Simplicity: The combination offers a quick breakfast solution. Additionally, the partnership includes coupons and digital rebates to further enhance affordability.
The 2021 Dr. Martin Luther King, Jr. Holiday Breakfast, hosted by General Mills and UNCF, will feature Dr. Bernice King and Ambassador Andrew Young discussing Dr. King's legacy and social justice issues. The event, themed 'Our Rising Voices: A Call for Bold Social Action,' takes place on January 18, 2021, at 9 a.m. CST. Proceeds will support UNCF scholarships for local students. This annual event, running since 1991, reiterates the importance of education and social change, reflecting on Dr. King's teachings and the urgent need for community action.
Cheerios has remade its iconic 1999 holiday ad due to heightened consumer engagement on TikTok. The new ad emphasizes the importance of connecting with loved ones during a challenging holiday season. Originally featuring a grandmother and granddaughter, the updated version adapts to 2020 realities while maintaining the emotional essence. The remaking decision was influenced by heartfelt TikTok responses, and the production adhered to COVID-19 safety guidelines. General Mills, the parent company, reported $17.6 billion in net sales for fiscal 2020.
General Mills (GIS) reported Q2 results for the fiscal year ending November 29, 2020, with net sales increasing 7% to $4.7 billion. Organic net sales also rose 7%, supported by market share gains due to increased at-home food consumption amid the pandemic. The company saw a 19% increase in net earnings to $688 million and diluted EPS grew 17% to $1.11. Adjusted operating profit increased 6% in constant currency, with a margin of 18.3%. Despite strong performance, General Mills refrained from providing a full-year outlook given the uncertain impact of COVID-19.
General Mills (NYSE: GIS) has been awarded a double ‘A’ score by the environmental impact nonprofit CDP for its leadership in sustainability, specifically in addressing climate change and water security. This recognition places General Mills among a select group of North American Food & Beverage companies achieving this score. The company aims to reduce greenhouse gas emissions by 30% and promote regenerative agriculture on one million acres by 2030. CDP's evaluation process is recognized as a gold standard in environmental transparency.
Chex cereal has announced a holiday collaboration with Chrissy Teigen and John Legend, introducing new festive recipes aimed at enhancing holiday celebrations in 2020. The campaign features two recipes: Legendary Muddy Buddies and Sugar and Spice Chex Holiday Mix, designed to inspire families to create festive snacks together. With more families staying home, Chex emphasizes its versatile and fun recipes to foster togetherness during the holidays. The collaboration is highlighted on Chex cereal boxes and through videos on Chex.com.
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