General Mills Inc
General Mills is an American multinational manufacturer of consumer and pet food products sold through retail stores. It supplies both branded and unbranded products to the North American foodservice and commercial baking industries. It also provides pet food products through its subsidiary Blue Buffalo Pet Products Inc.
The company offers a range of food products with a focus on ready-to-eat breakfast cereals; ready-to-eat meals, frozen pizza, soup, sauces, side dish mixes, frozen breakfast and entrees; snacks, nutrition bars, frozen snacks; yoghurts, desserts, and ice cream. Other product categories include baking mixes and ingredients, and refrigerated and frozen dough. It also provides food products for dogs and cats.
59% of sales are in North America; 12% in Europe & Australia.ref Net sales break down as follows:
- 59.9%: Consumer distribution;
- 11.7%: Catering and Bakery: sale of products to restaurants, to bakeries, operators of vending machines and dishes as well as to cafeterias of schools and companies.
- 29.4%: International activities.
GMO Labelling: todo
- † Cascadian Farm
- ¶ Häagen-Dazs
- † Annie's
- Betty Crocker
- Old El Paso
- V. Pearl
- Wanchai Ferry
- † Annie's
- Wanchai Ferry
- Blue Buffalo
- † Annie's
- Totino’s / Jeno’s
- † Annie's
- † Cascadian Farm
- † EPIC
- Fiber One
- † Food Should Taste Good
- Fruit Snacks
- † Lärabar
- Nature Valley
- † Annie's
- † Cascadian Farm
- ‡ Green Giant
- † Muir Glen
- † Annie's
- Mountain High
- Yoplait France
- 7.95% Vanguard Group Inc
- 6.01% SSgA Funds Management Inc
- 3.71% Capital Research & Management Company
- 3.31% Swiss Re Financial Services Corporation
- 2.55% Capital Research & Management Company (World)
- 2.51% BlackRock Fund Advisors
- 2.45% Invesco Advisers Inc
- 1.91% Davis Selected Advisors LP
- 1.48% Geode Capital Management LLC
- 1.46% Putnam Investments LLC
- Cereal Partners Worldwide: the 50/50% JV with Nestlé SA competes in the ready-to-eat cereal category in markets outside North America. CPW manufactures and markets ready-to-eat cereal products in 130+ countries outside the USA and Canada. CPW also markets cereal bars in several European countries, and manufactures private label cereals for customers in the UK. GM's cereal trademarks are licensed to CPW and may be used in association with the Nestlé trademark. Nestlé licenses certain of its trademarks to CPW, including the Nestlé and Uncle Toby’s trademarks. [AR-2019]
- Häagen-Dazs Japan Inc: a 50/50% JV with ??, competes in the super-premium ice cream category in Japan. [AR-2019] Website
- Häagen-Dazs Asia: GM has a 50% interest in each of 4 joint ventures for the manufacture, distribution and marketing of Häagen-Dazs frozen ice cream products and novelties with: Häagen-Dazs Japan KK, Häagen-Dazs Korea Company Ltd, Häagen-Dazs Distributors (Thailand) Company Ltd and Häagen-Dazs Marketing & Distribution (Philippines) Inc.
- Häagen-Dazs: the trademark is licensed royalty-free and exclusively to Nestlé for ice cream and other frozen dessert products in the USA and Canada. The trademark is also licensed to HDJ. As part of GM's Häagen-Dazs business in the Europe & Australia and Asia & Latin America segments, GM operates 525 (all leased) and franchise 365 branded ice cream parlors in various countries around the world, all outside of the USA and Canada. [AR-2019]
- Green Giant: 50% interest in Seretram, a joint venture with Co-op de Pau for the production of Green Giant canned corn in France.
|3Q.2019||La Salteña, a fresh pasta and refrigerated dough business in Argentina, was sold.|
|4Q.2019||Yoplait: the yogurt business in China was sold, with GM simultaneously entering into a new Yoplait license agreement with the purchaser for their use of the Yoplait brand.|
|3Q.2018||Blue Buffalo Pet Products Inc was acquired. A General Mills subsidiary merged with Blue Buffalo, with Blue Buffalo surviving the merger as a wholly-owned subsidiary of General Mills. The acquisition made General Mills a leading manufacturer and marketer in the wholesome natural pet food category.|
|2016||General Mills de Venezuela CA, a GM subsidiary, was sold to a 3rd party; GM then exited Venezuela. [AR-2016]|
|2016||General Mills Argentina SA, a foodservice business in Argentina, was sold to a 3rd party. [AR-2016]|
|Nov.2015||Green Giant: the North American Green Giant product lines were sold to B&G Foods Inc. GM continued using the Green Giant brand in certain markets outside of North America.ref [AR-2016]|
|Oct.2014||Annie’s Inc, a publicly traded food company headquartered in Berkeley, California, was acquired.|
|Aug.2012||Yoki Alimentos SA, a privately held food company headquartered in Sao Bernardo do Campo, Brazil, was acquired. Yoki operates in several food categories, including snacks, convenient meals, basic foods, and seasonings.[AR-2014]|
|Jul.2011||Yoplait: GM acquired a 51% controlling interest in Yoplait SAS and a 50% interest in Yoplait Marques SAS from private equity firm PAI Partners SAS and Sodiaal International, to market Yoplait yogurt worldwide. Yoplait SAS operates yogurt businesses in several countries, including the UK, France and Canada, and oversees franchise relationships around the world. [AR-2012]|
|??.2011||Food Should Taste Good, a USA-based wholesome snack producer, was acquired. [AR-2012]|
|??.2011||Parampara Foods, a meal starters company in India, was acquired. [AR-2012]|
|??.2011||Mountain High, a brand of all-natural yogurt, was added to the USA yogurt business. [AR-2011]|
|??.2011||Pasta Master, an Australian refrigerated lasagna business, was added to the chilled pasta division. [AR-2011]|
|2009||Sold the bread concentrates product line within the Bakeries and Foodservice segment, including a plant in Cedar Rapids, Iowa. Also sold a portion of the assets of the frozen unbaked bread dough product line within the Bakeries and Foodservice segment, including plants in Bakersfield, California; Hazleton, Pennsylvania; Montreal, Canada; and Vinita, Oklahoma. Certain assets sold were shared with a frozen dinner roll product line within the USA Retail segment, with GM exiting the product line as a result of the asset sale.|
|2009||Pop Secret, a microwave popcorn product line, was sold to ??.|
|2009||Humm Foods Inc, the maker of Lärabar fruit and nut energy bars, was acquired.|
|2008||8th Continent LLC, the 50% domestic JV with DuPont to develop and market soy-based foods and beverages, was sold to ??|
|2008||HD Distributors (Thailand) Company Ltd:, a controlling interest in the existing joint venture with ?? was acquired.|
|Jan.2007||Saxby Bros Ltd, a Northamptonshire frozen pastry and pork pie company, was acquired in a takeover bid. All frozen pastry production was transferred from Saxby's Wellingborough site to #Jus-Rol Ltd's Berwick-upon-Tweed factory in 2008, terminating the Saxby brand.ref,ref The deal gave General Mills UK control of 80% of the market to supply ingredient pastry to UK retailers, and 15-20% of the market to supply ingredient pastry to the UK bakery and manufacturing sectors. It was been cleared by regulators despite concerns.ref|
|2007||completed an acquisition in Greece.|
|Jul.2006||Uncle Tobys, an Australian cereals business, was acquired by Cereal Partners Worldwide.|
|Mar.2006||Elysées Consult SA, franchise operator of a Häagen-Dazs shop in France, was acquired.|
|Nov.2005||Croissant King, a producer of frozen pastry products in Australia, was acquired.|
|Oct.2005||Pinedale Holdings Pte. Ltd:, a controlling financial interest in the operator of Häagen-Dazs cafes in Singapore and Malaysia, was acquired.|
|Apr.2005||Lloyd’s Barbecue product line was sold to Hormel Foods Corporation.|
|Feb.2005||Snack Ventures Europe, a snacks joint venture with PepsiCo Inc, was terminated, with GM redeeming its 40.5% interest.|
|Dec.2001||Ice Cream Partners USA: Nestlé exercised its contractual right to buy out General Mills' interest in Häagen-Dazs, which included a 99-year license for the brand in the USA, until 2100.ref,ref Nestlé also bought out the existing licensing arrangement with Pillsbury under which Nestlé manufactured and distributed Häagen-Dazs products in Canada. General Mills continued to own and operate the Häagen-Dazs business outside of the USA and Canada.ref|
|Oct.2001||Pillsbury Company was acquired by General Mills from Diageo plc, which succeeded to Pillsury's interest in the Ice Cream Partners USA joint venture.ref,ref,|
|Jul.2001||8th Continent LLC: 50% equity interest in a domestic joint venture formed with DuPont to develop and market soy-based foods and beverages. This venture began marketing a line of 8th Continent soymilk to limited markets in Jul.2001 and nationally in Jun.2003.|
|Jan.1997||Ralcorp Holdings Inc's Ralston Foods ready-to-eat cereal business was acquired.ref,ref,ref This included its core Chex, Cookie Crisp and Almond Delight brands, along with trademark and technology rights for these branded products.ref (todo|
|1928||General Mills Inc was incorporated in Delaware.|
|2002||Burger King was sold to a group of private equity firms, led by TPG Capital LP.ref|
|Oct.2001||General Mills acquired the Pillsbury Company from Diageo plc, forming the 4th-largest food company in the world. General Mills combined Pillsbury's brands with its Betty Crocker, Cheerios, Yoplait and Big G brands.ref,ref|
|Dec.2000||Nestle exercised its right to buy General Mills out of the Ice Cream Partners JV.|
|Aug.1999||Ice Cream Partners USA: Pillsbury and Nestlé merged their USA and Canadian ice cream operations into a joint venture, which combined Pillsbury’s Häagen-Dazs frozen desserts with Nestlé’s novelty ice cream business.ref,ref|
- Dec.1997: Diageo plc: Grand Metropolitan plc merged with Guinness plc.
- Jul.1995: Van de Kamp's seafoods business, and a small frozen dessert operation, were sold to a USA group of private investors under the umbrella of the "Dartford Partnership". The dessert business produced Oronoque pie shells, Pet-Ritz cream pies and private-label whipping topping.
- Jan.1995: Pet Inc, an American food company specialising in Mexican sauces and Italian soups, was acquired by Pillsbury. Pet's best-known brand names included the Old El Paso range of Mexican foods; Progresso, a range of ready-to-serve soups; Pet-Ritz and Downyflake. GrandMet also owned IDV, the drinks group.ref FixMe: Different parts of Pet Inc were later sold off to different companies. Pet, Inc.,
- Aug.1989: United Biscuits plc's restaurant, manufacturing and distributing operations were bought by Grand Metropolitan plc. UK-based United Biscuits owned ~400 Wimpy hamburger restaurants,ref Pizzaland restaurants, and Perfect Pizza outlets.ref Grand Met converted Wimpy locations that used a counter service system into Burger King locations.ref The merger of the United Biscuits properties with Burger King grew the company from ~30 restaurants in the UK to 60+ within a year of the purchase, with another 30 added in early 1990.ref }}
- 1989/1990:: Grand Metropolitan sold all of Pillsbury’s restaurants except Burger King. Two plants were closed, and the USA consumer foods division, renamed Pillsbury Foods, included all of Pillsbury’s branded prepared foods. The new industrial-foods and foodservice division included the flour-milling and industrial-bakery mixes operations. These two divisions, along with a separate division for Haagen-Dazs and Burger King, all joined Grand Metropolitan’s food sector, leaving Pillsbury a hollowed-out marketing entity.
- Oct.1989: Van de Kamp's frozen seafood division was sold to Chicago-based Whitman Corporation.ref,ref
- Oct.1989: Bumble Bee Seafoods Inc, purchased only ten months earlier, was sold to Uni Group Inc, a newly-formed USA-based affiliate of Unicord Company Ltd, a major Thai seafood processor.ref
- Jan.1989: Grand Metropolitan plc acquired Pillsbury in a hostile takeover, and set about divesting Pillsbury of all production and distribution facilities, outsourcing those functions to other companies, and turning Pillsbury into a mere marketing entity for its own brands, Pillsbury, Green Giant, Old El Paso, Totino's, etc.
- Jul.1988: Bumble Bee Seafoods Inc, a tuna-canning company, was acquired, contingent on its management sitting tight for five years.
- mid.1980s: The company's earnings fell precipitously. Second-guessing the restaurant business wasn't working; agri-products sectors began reporting losses; and a series of different managers brought different ideas.
- 198?: Jeno's Pizza, a frozen pizza marketer, was acquired.
- 1984: Diversifoods Inc and QuikWok Inc were acquired. Diversifoods brought ~400 additional Burger King outlets, plus Godfather's Pizza, Chart House, and Luther's Bar-B-Q.
- Nov.1984: Van de Kamp's, a frozen fish products company that produced Chicken of the Sea canned tuna, was acquired.ref
- 1983: Häagen-Dazs was acquired.
- 1979: Green Giant, a packager of frozen vegetables, was acquired.
- 1976: Bennigan's, an Irish pub-themed casual dining restaurant chain, was founded in Atlanta as part of Pillsbury,by restaurateur Norman E Brinker. spun off in 1990; S&A management, underwritten by Metromedia Inc, led the leveraged buyout of S&A in 1991 see "Conglomerate menace stalks chains"
- 1976: Steak & Ale, a restaurant chain, was acquired. Steak & Ale was Pillsbury’s first full-service restaurant chain.
- 1975: Totino's Finer Foods, a frozen pizza marketer, was acquired.
- 1967: Burger King Corporation was bought from its owners, James McLamore and David R Edgerton.ref,ref:28
- 1965: The Pillsbury Doughboy was debuted, with the launch of refrigerated crescent rolls.
- 1960: Tidy House Products Company, a manufacturer of household cleaners, was acquired, marking the first non-food acquisition.
- 1959: Expansion: Pillsbury purchased flour mills in Venezuela, El Salvador, Guatemala, Ghana, the Philippines, and Trinidad, as well as food companies in France, Australia, and Germany.
- 1950s: Expansion: The company opened milling plants in Canada and increased its grain storage capacity. By 1963, the Pillsbury name appeared on 127 different products.
- 1951: Ballard & Ballard Company was acquired, expanded Pillsbury's product line with its line of refrigerated foods.
- late.1940s: Pillsbury ventured into higher-margin convenience products to meet growing consumer demand. Cake mixes were introduced in 1948, and over the next ten years Pillsbury increased the varieties it offered.
- 1944: Pillsbury Mills Inc: the company changed its name.
- early 1940s: Expansion: Pillsbury began to export its flour, introduced products for hotels and restaurants, and manufactured food products for US troops during World War II, developing dry soup mixes in addition to its grains.
- 1940: Globe Grain and Milling Company and its various plants was acquired, which enabled Pillsbury to diversify into new lines such as pancake mixes, biscuit mixes and pasta.
- 1920s-1930s: Expansion: Pillsbury opened several new plants and began to diversify, expanding into specialised grain products such as cake flour and cereals.
- Jun.1923: The firm rebounded and purchased all remaining assets from Pillsbury-Washburn's shareholders.
- 1909: Pillsbury Flour Mills Company: the renamed company came out of receivership, and began to expand its product line into consumer items such as health bran, pancake flour and wheat cereal. Charles S Pillsbury, Charles A Pillsbury’s son, was one of the three people appointed to reorganise the company.
- 1907: Receivership: a depressed agricultural economy led to Pillsbury struggling financially; following a poor harvest, it was forced into receivership.
- 1889: Pillsbury-Washburn Flour Mills Company Ltd: CA Pillsbury & Company sold its 9 mills to an English financial syndicate, which purchased competing Minnesota mills, elevators, and bordering water-power rights. Charles Pillsbury grew the firm into the world’s largest milling company.
- 1898: Flaked Oat Food was launched.
- 1897: Vitos wheat breakfast food, and Germos, a health flour, were brought out.
- 1889: Pillsbury Washburn Flour Mills Company: an English financial syndicate purchased CA Pillsbury & Company, consolidating it with various other mills it bought in the area.
- 1872: CA Pillsbury & Company was formed.
- 1869: Charles A Pillsbury bought a 33% share in a local flour mill in Minneapolis, Minnesota.
|Mar.2009||Shrinking Sizes: Häagen-Dazs announced that the 32 fl.ozs (950 ml) container would shrink to 28 fl.ozs (830 ml).ref|
|Jan.2009||Shrinking Sizes: to offset increasing ingredients and delivery costs, Häagen-Dazs announced that it would be reducing the size of their ice cream cartons in the USA from 16 fl.ozs (470 ml) to 14 fl.ozs (410 ml).ref|
|2001||General Mills bought Pillsbury, and succeeded to its interest in Ice Cream Partners USA.ref,ref|
|Dec.1992||Häagen-Dazs products commenced manufacture at a plant in Tilloy-lès-Mofflaines, France that is now controlled by General Mills.ref In the USA and Canada, Häagen-Dazs is licensed to, and produced by, Nestlé's subsidiary Dreyer's.ref|
|1984||Japan: Häagen-Dazs formed a joint venture with Suntory and Takanashi Milk, which has produced their products there ever since.|
|1983||Pillsbury Company bought Häagen-Dazs.|
|1961||Häagen-Dazs was established by Reuben and Rose Mattus in Brooklyn Heights, New York.ref|
- Jan.2007: Saxby Bros Ltd, a Northamptonshire frozen pastry and pork pie company, was acquired by General Mills in a takeover bid. In 2008, the chilled pastry sector was transferred to Jus-Rol's Berwick-Upon-Tweed site, with the Saxby's pastry brand being absorbed into Jus Rol, terminating the Saxby brand.ref,ref,ref
- Oct.2001: Pillsbury Company was bought by General Mills Inc, forming the 4th-largest food company in the world. The transaction included well-known brands such as Cheerios, Wheaties, Haagen Dazs, Yoplait yogurt, Hamburger Helper, Jolly Green Giant and Pillsbury bakery items, including Jus-Rol.refref
- Dec.1990: Grand Metropolitan plc purchased Jus-Rol from Fitch Lovell plc. Bluecap Frozen Foods, a Stockport-based contract distributor mainly of Jus-Rol products, was also sold as part of the transaction.
- 1975: Fitch Lovell plc acquired Jus-Rol Ltd from the Forsyth family.
- Nov.1954: Jus Rol Ltd was incorporated.
- Yoplait SAS (GM 51% / Sodiaal International 49%)
- Yoplait Marques SNC (GM 50% / Sodiaal International 50%)
- Yoplait Marques SNC (GM 50% / Sodiaal International 50%)
- Liberté Marques Sàrl (GM 50% / Sodiaal International 50%)
The Yoplait trademark and other related trademarks are owned by Yoplait Marques SNC. These marks are licensed exclusively to Yoplait SAS. Yoplait SAS licenses these trademarks to its franchisees. The Liberté trademark and other
related trademarks are owned by Liberté Marques Sàrl. Yoplait Marques SNC earns a royalty stream through a licensing agreement with Yoplait SAS for the rights to Yoplait and related trademarks. Liberté Marques Sàrl earns a royalty stream through licensing agreements with certain Yoplait group companies for the rights to Liberté and related trademarks.
Sodiaal has the ability to put all or a portion of its redeemable interest to GM at fair value once per year, up to three times before Dec.2024. A subsidiary of Yoplait SAS entered into an exclusive milk supply agreement for its European operations with Sodiaal at market-determined prices up to Jul.2021.
- Jul.2011: Yoplait: GM acquired a 51% controlling interest in Yoplait SAS and a 50% interest in Yoplait Marques SAS from private equity firm PAI Partners SAS and Sodiaal International, to market Yoplait yogurt worldwide. Yoplait SAS operates yogurt businesses in several countries, including the UK, France and Canada, and oversees franchise relationships around the world. Yoplait Marques SAS holds the worldwide rights to Yoplait and related trademarks. [AR-2012]
- Annual Report 2005. General Mills, todo. Original archived
- Annual Report 2015. General Mills, todo. Original archived
- Annual Report 2007. General Mills, todo. Original archived
- Annual Report 2006. General Mills, todo. Original archived
- Pillsbury Co. AdAge, Sept.15.2003.
- A Case Study: Pillsbury; Advice on Fixing a Food Giant. Claudia H Deutsch, The New York Times, Jul.31.1988. Original archived on Jun.14.2011.
- Pillsbury UK Ltd. Directors' Report and Financial Statements, Apr.1989., Companies House, Apr.27.1991.
- Jus Rol in Berwick. Friends of Berwick and District Museum and Archives. Accessed Apr.22.2020.