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General Mills secured its entry into the fledgling but growing Brazilian yoghurt market with the acquisition of local player Carolina just before Christmas. But, with Carolina's tiny market share, will the move pay off in meeting General Mills' wider ambitions for growth in emerging markets?
Either side of Christmas, General Mills turned to M&A to try to inject some growth into its business. On 23 December, the company announced a move to buy Brazilian yoghurt maker Carolina to bolster its operations outside the US. Last week, General Mills swooped again, this time domestically, snapping up fledgling US meat snacks firm Epic Provisions, another sign of the attractiveness of protein, snacks and sustainability for food majors. However, the Cheerios maker will have to be judicious in the way it manages the new asset. Dean Best reports.
Looking to 2016, it seems likely many of the trends that drove a bumper year of deal-making will persist over the next 12 months - consolidation, health, simple foods and emerging markets.
General Mills' latest numbers have put the US food giant under scrutiny once more. Last week, the company reported lacklustre second-quarter sales and cut its forecasts for annual sales and earnings. The group's domestic business, which has been under pressure for a number of years now, saw sales fall, leading industry watchers to ponder what lies ahead in 2016 and beyond for the company. Dean Best reports.
John Haugen, vice president and general manager of General Mills' investment arm 301 Inc., speaks to Hannah Abdulla about how backing start-ups helps the US food giant shape its future growth portfolio and why the first two companies it is supporting - Rhythm Superfoods and Good Culture - are deemed the perfect fit.
Last year, General Mills announced it was refocusing innovation unit 301 Inc. from developing in-house brands to centre on providing capital to emerging food brands and create "breakthrough innovation in the food space". Since then the unit has made two significant investments with plant-based snacks firm Rhythm Superfoods, and this month, cottage cheese maker Good Culture. In a two-part interview with Hannah Abdulla, 301 Inc.'s VP and general manager John Haugen tells us what prompted these investments and more about the direction in which the investment vehicle is headed.
Grupo Bimbo, the Mexican baker, has entered into an agreement to acquire General Mills' frozen bakery and foodservice business in Argentina.
General Mills is pulling certain television adverts for its Progresso soup brand after an independent watchdog issued a split decision in its arbitration of a complaint brought forward by Campbell Soup Co.
General Mills is testing its new hummus lines sold under its Food Should Taste Good brand at mainstream retailers in the US after launching the products at natural and organic stores at the start of the year.
General Mills' US investment vehicle 301 Inc. has invested in Tio Gazpacho, a US maker of chilled, ready-to-drink vegetable soups.
Yoghurt is the latest niggle on General Mills' list of woes, the Yoplait owner revealed on a conference call on its third-quarter and nine-month results yesterday (23 March).
Kellogg will start labelling products on sale in the US that contain genetically modified ingredients as of next month.
General Mills booked a mixed set of results for the first nine months of its financial year, as earnings were lifted by lower restructuring costs but sales declined on foreign exchange and the sale of its Green Giant business to B&G Foods.
General Mills is relaunching Häagen-Dazs ice creams in Australia after a 12-year absence.
In an audio excerpt of an interview with just-food, John Haugen, the vice president and general manager for General Mills' investment arm 301 Inc., talks to just-food about why some major names in the industry are looking to back start-ups.
General Mills today (18 March) announced plans to label products containing genetically modified ingredients across the US.
General Mills, the US food group, is to exit Venezuela after striking a deal to sell its business in the country to private investment firm Lengfeld Inc.
General Mills is mulling plans to expand its production site in Albuquerque in New Mexico.
General Mills believes it will reach a target of doubling its organic acreage in 2019, a year earlier than the Annie's owner had originally estimated.
General Mills has invested in US cottage cheese maker Good Culture through 301 Inc., the food giant's fund that backs start-ups.
General Mills is entering the hand-held ice cream category in the UK with the launch of Häagen-Dazs stick bars in the country.
General Mills plans to launch more gluten-free cereals and take its Annie's brand in the category in order to build on the growth the company has seen from aiming cereal products at more health-conscious consumers in the US.
Chobani has been ordered to suspend a marketing campaign highlighting the artificial ingredients in Danone's low-fat yoghurt line.
General Mills has been awarded a preliminary injunction that will halt Chobani's adverts contrasting the "natural" ingredients in its Simply 100 yoghurt against the "artificial" additives contained in Yoplait Greek 100 line.
General Mills has added an oatmeal-based variant to its Plenti yoghurt line in the US.
General Mills said today (18 January) it will shut its plant in the English town of Berwick-upon-Tweed.
Diamond Foods, itself set to be sold to US snacks group Snyder's-Lance, this week took a stake in UK popcorn maker Metcalfe's Skinny. Our M&A pages featured a number of deals, including the move for Chinese dairy group Ambrosia by Irish co-op Ornua. At the ICR investment conference in Florida, the new owner of Green Giant, B&G Foods, said it was interested in more acquisitions in the frozen food sector, while Hain Celestial told delegates it could withstand greater competition in the US natural and organic sectors.
US group Hain Celestial this week cut its forecasts for annual sales and earnings amid pressure on its domestic business. The company's management also presented at the ICR investment conference, where it sought to be upbeat about Hain's prospects. Staying in the US, Danone warned it could pursue legal action over Chobani's "misleading and deceptive marketing" which targeted its Light & Fit brand. Elsewhere, Irish dairy co-op Ornua announced the acquisition of Chinese group Ambrosia. And we analysed General Mills' recent acquisitions of Brazilian yoghurt maker Carolina and US meat snacks firm Epic Provisions. Here is the week in quotes.
There is speculation in the UK the Labour Party is planning a 9pm watershed on junk food advertising if it wins power at the country's General Election in May.
Nestle has secured prime-shelf space in the UK for its gluten-free cereal appeasing a growing army of gluten-free dieters.
General Mills Inc in Packaged Food (USA)
General Mills is focused on building its core brands through effective marketing, new product innovation and merchandising efforts....
General Mills Inc in Packaged Food (World)
General Mills continues to record growth in packaged food sales although it faces stagnation in some of its core categories, such as breakfast cereals. It is also undermined by a geographic bias towar...
Natural and Organic Food Market in the US 2015-2019
The consumer demand for organic products has broadened....
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