General Mills' move for Annie's has further fuelled the belief US natural and organic food companies, including Hain Celestial and WhiteWave Foods, could become takeover targets for mainstream groups searching for growth. But the price...
The US accounts for the bulk of General Mills' business and, with its operations at home under pressure, the food giant has got out the chequebook to snap up local natural and organic food maker Annie's. But is it the right move? Dean Best investigates.
General Mills is set to buy US natural and organic food firm Annie's in a deal worth US$820m.
US food group Annie's has kept its forecasts for annual sales and earnings despite a mixed first quarter.
General Mills chief Ken Powell did his best yesterday (25 June) to be positive despite a surprise fall in sales in the US food giant's fourth quarter rounding off a challenging year for the company. Powell insisted General Mills had plenty of ways to revitalise its top line but the Cheerios and Yoplait owner faces another challenging year.
General Mills has revealed its manufacturing plants in North America are under review as the US food giant tries to save costs. The company, which has is struggling to grow…
General Mills saw sales fall in the fourth quarter of its financial year, rounding off 12 months when the Old El Paso and Yoplait owner's financial results were "below expectations".…
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