Packaged food giant General Mills is buying Annie’s, the maker of rabbit-shaped mac and cheese, adding to its natural and organic packaged offerings as consumers’ tastes change. General Mills Inc., the company behind Pillsbury dough, Progresso soups, Yoplait yogurts and Cinnamon Toast Crunch cereal, is trying to cut cost and has tweaked its recipes as sales stagnate.
Rough winter weather took a bite out of General Mills’ fiscal third-quarter sales, and the cereal maker’s results missed Wall Street expectations. The maker of Cheerios, Yoplait and Betty Crocker products said Wednesday that its fiscal third-quarter net income rose 3 percent.
General Mills, whose brands include Cheerios, Yoplait and Betty Crocker, on Friday issued a lower-than-expected profit prediction for its fiscal third quarter, citing lower demand for its products in developed markets.
General Mills’ fiscal second-quarter net income rose 2 percent, helped by lower expenses. But the Minneapolis company’s performance fell short of Wall Street’s expectations. Its stock declined more than 2 percent in Wednesday premarket trading.
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General Mills Inc. is benefiting from its acquisition of Yoplait International, even as it struggles to expand its yogurt business at home.
Greek yogurt is a product that’s taking a huge scoop out of the yogurt industry.
General Mills Inc. said Friday its $1.2 billion acquisition of a controlling stake in yogurt company Yoplait is complete.
General Mills Inc. said Wednesday that it has signed a deal to buy a controlling stake in French yogurt company Yoplait for about $1.15 billion.
General Mills said Friday that it has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait.
General Mills Inc. is prepared to pay $2.22 billion for a majority stake in Yoplait to beat out competitors for the French yogurt company, according to published reports.