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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 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.
General Mills (NYSE: GIS) will release its fiscal 2021 second-quarter results on December 17, 2020. A press release, management remarks, and slides will be available that morning, followed by a webcast Q&A at 8:00 a.m. CT. General Mills reported fiscal 2020 net sales of $17.6 billion, along with $1.0 billion in non-consolidated joint venture sales. The company aims to produce food that the world loves, featuring notable brands like Cheerios, Häagen-Dazs, and Betty Crocker.
The Board of Directors of General Mills has declared a quarterly dividend of $0.51 per share, marking a 4% increase from last year's $0.49. This dividend is payable on February 1, 2021, to shareholders on record as of January 8, 2021. General Mills has maintained uninterrupted dividend payments for 122 years. In fiscal 2020, the company reported net sales of $17.6 billion, along with $1.0 billion in net sales from non-consolidated joint ventures.
General Mills launched the Old El Paso Tortilla Pockets in Australia, which sparked an international tennis event called the #MessFreeChallenge. Initiated by Nick Kyrgios, the challenge promotes fun while raising awareness for hunger relief. Tennis stars from around the world, including Genie Bouchard and Sofia Kenin, participated, showcasing their skills with Old El Paso products. The campaign resulted in donations of 100,000 meals to food banks. During the pandemic, General Mills committed $9 million towards hunger relief, including $5 million in food donations to Feeding America.
The General Mills Foundation has announced an additional $4 million in funding to combat food insecurity exacerbated by the COVID-19 pandemic. This funding complements the over $10 million already distributed for food assistance since March 2020. The $4 million will support organizations like Feeding America and the Global FoodBanking Network, focusing on enhancing food bank capacities and sustainable food systems. A significant portion, $2 million, is earmarked for the MealConnect platform to facilitate food donations. General Mills has contributed over $50 million in cash and food donations in fiscal 2020.
General Mills has launched a Monster Cereal giveaway featuring 20-inch busts of Count Chocula, Boo Berry, and Franken Berry, crafted by a special effects artist. This promotional event aims to engage fans during a unique Halloween season. To enter the sweepstakes, consumers must visit General Mills' Instagram account, like the official post, comment their favorite cereal, and use the hashtag #MonsterCerealSweepstakes. The contest runs until October 22, 2020. General Mills reported fiscal 2020 net sales of $17.6 billion.
Wheaties announced that LeBron James will be the next athlete featured on its iconic cereal box, succeeding Serena Williams. This limited-edition box showcases a collage of families from James' I PROMISE program, reflecting his commitment to community upliftment. The box symbolizes James' impact beyond basketball, highlighting his educational initiatives and the support his foundation provides to at-risk students in Akron, Ohio. The Wheaties box will be available for purchase online and in stores in the coming weeks.
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