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General Mills (NYSE: GIS) has completed the acquisition of Edgard & Cooper, a premium pet food brand in Europe. This move aligns with the company's Accelerate strategy to drive growth and shareholder returns. Edgard & Cooper, founded in 2016, is a rapidly growing brand with estimated 2023 sales exceeding €100 million. The acquisition strengthens General Mills' position in the pet food market and emphasizes sustainability.
General Mills (NYSE: GIS) ha completato l'acquisizione di Edgard & Cooper, un marchio di cibo per animali domestici di alta qualità in Europa. Questa mossa è in linea con la strategia Accelerate dell'azienda per stimolare la crescita e i rendimenti degli azionisti. Fondato nel 2016, Edgard & Cooper è un marchio in rapida crescita con vendite stimate per il 2023 superiori ai 100 milioni di euro. L'acquisizione rafforza la posizione di General Mills nel mercato del cibo per animali e pone l'accento sulla sostenibilità.
General Mills (NYSE: GIS) ha completado la adquisición de Edgard & Cooper, una marca premium de alimentos para mascotas en Europa. Esta acción está alineada con su estrategia Accelerate, destinada a impulsar el crecimiento y los retornos para los accionistas. Edgard & Cooper, que fue fundada en 2016, es una marca en rápido crecimiento con ventas estimadas para 2023 que superan los 100 millones de euros. La adquisición fortalece la posición de General Mills en el mercado de alimentos para mascotas y enfatiza la sostenibilidad.
General Mills (NYSE: GIS)는 유럽의 프리미엄 반려동물 식품 브랜드인 Edgard & Cooper 인수를 완료했습니다. 이번 인수는 회사의 성장과 주주 수익을 촉진하기 위한 Accelerate 전략과 일치합니다. 2016년에 창립된 Edgard & Cooper는 2023년에 예상 매출이 1억 유로를 초과하는 빠르게 성장하는 브랜드입니다. 이번 인수는 General Mills의 반려동물 식품 시장에서의 위치를 강화하며 지속 가능성을 강조합니다.
General Mills (NYSE: GIS) a finalisé l'acquisition d'Edgard & Cooper, une marque premium de nourriture pour animaux domestiques en Europe. Cette démarche s'aligne sur la stratégie Accelerate de l'entreprise visant à stimuler la croissance et les retours pour les actionnaires. Fondée en 2016, Edgard & Cooper est une marque en pleine croissance avec des ventes estimées pour 2023 dépassant les 100 millions d'euros. L'acquisition renforce la position de General Mills sur le marché des aliments pour animaux domestiques et met l'accent sur la durabilité.
General Mills (NYSE: GIS) hat die Übernahme von Edgard & Cooper, einer Premium-Tierfuttermarke in Europa, abgeschlossen. Diese Maßnahme steht im Einklang mit der Accelerate-Strategie des Unternehmens, die darauf abzielt, Wachstum und Aktionärsrenditen zu fördern. Edgard & Cooper, gegründet 2016, ist eine schnell wachsende Marke mit einem geschätzten Umsatz von über 100 Millionen Euro für das Jahr 2023. Die Akquisition stärkt die Position von General Mills auf dem Haustierfuttermarkt und betont die Nachhaltigkeit.
Positive
Acquisition of Edgard & Cooper expands General Mills' portfolio in the pet food market, enhancing its growth potential.
Edgard & Cooper is a well-established and fast-growing brand with estimated 2023 sales of over €100 million, providing a strong revenue stream.
General Mills' Accelerate strategy is further advanced through this acquisition, demonstrating the company's commitment to sustainable and profitable growth.
Negative
Potential integration challenges may arise as Edgard & Cooper becomes a separate operating unit within General Mills, impacting operational efficiency.
The success of the acquisition hinges on effectively leveraging General Mills' marketing and supply chain expertise to accelerate Edgard & Cooper's growth.
General Mills' acquisition of Edgard & Cooper aligns with a broader industry trend where major food corporations are expanding their presence in the lucrative pet food sector. Evaluating this move requires considering the growth potential of the premium pet food market, which has been increasing due to the humanization of pets and rising disposable incomes. Edgard & Cooper’s positioning in this segment suggests General Mills is strategically targeting a high-margin area, which could boost their portfolio diversity and resilience against market fluctuations in its traditional segments.
The acquisition’s financing through cash on hand indicates General Mills’ strong liquidity position, potentially reducing the risks associated with debt financing. With Edgard & Cooper's estimated 2023 retail sales surpassing €100 million, this deal could offer a significant revenue stream for General Mills' International segment. It's essential to observe the transaction's multiples compared to industry averages and the immediate financial performance post-acquisition to assess the accuracy of the investment decision and its impact on shareholder value. Increased earnings visibility and potential economies of scale are aspects to monitor in upcoming financial disclosures.
Edgard & Cooper’s emphasis on sustainability and natural pet food products could resonate with the growing consumer demand for environmentally responsible brands. This move may enhance General Mills’ brand perception and meet investor expectations around Environmental, Social and Governance (ESG) criteria. However, it will be important to track how General Mills integrates these practices into its broader operations and whether it can maintain Edgard & Cooper's sustainability commitments at scale without diluting the brand’s value proposition.
MINNEAPOLIS--(BUSINESS WIRE)--
General Mills (NYSE: GIS) today announced it has completed the acquisition of Edgard & Cooper, one of Europe’s leading independent premium pet food brands. With this transaction, the company further advances its Accelerate strategy, including the prioritization of its core markets, global platforms and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term.
General Mills today announced it has completed the acquisition of Edgard & Cooper, one of Europe’s leading independent premium pet food brands. Established in 2016, Edgard & Cooper is one of the fastest-growing and most-recognized independent pet food companies in Europe, with estimated 2023 retail sales of more than €100 million across 13 markets. With this transaction, General Mills further advances its Accelerate strategy, including the prioritization of its core markets, global platforms and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term. (Photo: Business Wire)
“Edgard & Cooper is at the intersection of our Accelerate strategy's core markets and global platforms," said Jon Nudi, group president, Pet, International and North America Foodservice, General Mills. "We’re thrilled to welcome the Edgard & Cooper team to the General Mills family, and we look forward to partnering together to advance their mission to revolutionize premium, natural pet food.”
Established in 2016, Edgard & Cooper is one of the fastest-growing and most-recognized independent pet food companies in Europe, with estimated 2023 retail sales of more than €100 million across 13 markets. With omnichannel distribution capabilities and a commitment to sustainability, the brand is delivering high-quality pet food to dogs and cats across Europe while reducing its impact on the planet. Headquartered in Kortrijk, Belgium, Edgard & Cooper will be a separate operating unit led by its three founders, Koen Bostoen, Louis Chalabi and Jürgen Degrande, with its financial results consolidated into General Mills’ International segment.
“We’re excited to join Team General Mills and continue doing what Edgard & Cooper is passionate about — making better dog and cat food with real ingredients that pets love and pet owners feel good about,” said Koen Bostoen, founder, Edgard & Cooper. “Combining our brand’s natural positioning and commercial capabilities with General Mills’ marketing and supply chain expertise, we’re ready to accelerate Edgard & Cooper’s growth.”
General Mills will fund the acquisition with cash on hand.
Raymond James & Associates Inc. acted as General Mills’ lead financial advisor in this transaction. White & Case LLP served as legal advisor. Morgan Stanley & Co International plc served as exclusive financial advisor to Edgard & Cooper, and Linklaters LLP served as legal advisor.
About General Mills
General Mills makes food the world loves. The company is guided by its Accelerate strategy to drive shareholder value by boldly building its brands, relentlessly innovating, unleashing its scale and standing for good. Its portfolio of beloved brands includes household names such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Totino’s, Annie’s, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2023 net sales of U.S.$20.1 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S.$1.0 billion.
one of the world's leading food companies, general mills operates in more than 100 countries and markets more than 100 consumer brands, including cheerios, yoplait, betty crocker, pillsbury, häagen-dazs, nature valley, green giant, old el paso, progresso, cascadian farm, muir glen, and more. headquartered in minneapolis, minnesota, usa.
