General Mills Stock Price, News & Analysis

General Mills has reintroduced its iconic Monster Cereals, including Franken Berry, Count Chocula, Boo-Berry, and the long-awaited Frute Brute, with limited-edition KAWS-designed packaging. This marks Frute Brute's first appearance since 2013. The seasonal release emphasizes innovation with each box featuring collectible prizes by KAWS, appealing to both cereal lovers and collectors. General Mills aims to engage fans with unique designs while celebrating the legacy of these fan-favorite cereals, which have been around for over 50 years.

General Mills has partnered with ALUS to promote regenerative agriculture in Manitoba and Saskatchewan, Canada, with a $2.3 million investment. This funding supports farmer mentorship and the Growing Roots pilot program, focused on soil health. The initiative aligns with General Mills' goal of advancing regenerative agriculture on one million acres by 2030 and achieving net zero emissions by 2050. ALUS aims to enhance ecosystem services, benefiting local communities and the environment. The collaboration underscores General Mills' commitment to sustainability and support for local farmers.

General Mills introduces CinnaFuego Toast Crunch, a unique cereal that blends sweet cinnamon with fiery spice. This new product, set to launch on August 12 exclusively at Walmart.com, aims to enhance snack time with its combination of flavors. The cereal retains its original appearance and includes a resealable pouch for convenience. General Mills generated $19.0 billion in net sales for fiscal 2022, reinforcing its strong brand portfolio.

The 51st Pillsbury Bake-Off® Contest is now open, introducing a unique 'Ovens Off' challenge for participants. For the first time, contestants will create recipes without using any ovens, utilizing appliances like air fryers and grills. The grand prize includes $50,000, along with an additional $50,000 donation to a charity of the winner's choice. This contest reflects rising cooking trends and consumer preferences for non-oven recipes. Entries are accepted until August 14, with winners announced on October 3.

Eagle Foods has successfully acquired the Helper and Suddenly Salad brands from General Mills (NYSE: GIS) as of July 5, 2022. This strategic acquisition, first announced on May 25, aims to diversify Eagle's food offerings and enhance its center store category for retailers. CEO Bernard Kreilmann highlights a commitment to growth by investing in category development, R&D, and marketing, aiming to provide families with more convenient meal options. The acquisition adds to Eagle's existing platforms in snacks, baking, and meals.

General Mills has finalized the sale of its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group for approximately $610 million. This deal includes brands that generated net sales of about $235 million in fiscal 2021. General Mills has already incorporated this transaction into its Fiscal 2023 guidance shared on June 29, 2022. The company, headquartered in Minneapolis, reported fiscal 2022 net sales of $19.0 billion.

General Mills declared a 6% dividend increase reflecting confidence in its performance. For the full year, net sales rose 5% to $19 billion, while operating profit increased 11% to $3.5 billion. In the fourth quarter, net sales jumped 8% to $4.9 billion and diluted EPS surged 98% to $1.35. The company anticipates 4%-5% organic net sales growth in fiscal 2023, despite headwinds from inflation and supply chain issues. Strategic acquisitions and divestitures aim to enhance growth, although they may reduce EPS growth by 3%.

General Mills (NYSE: GIS) has successfully acquired TNT Crust, a leading manufacturer of frozen pizza crusts, previously owned by Peak Rock Capital. TNT Crust has shown remarkable growth, achieving approximately $100 million in net sales for 2021, with double-digit annual growth over four years. The acquisition includes two manufacturing facilities in Green Bay, Wisconsin, and one in St. Charles, Missouri, which will enhance General Mills' operational capabilities and market reach in the foodservice and retail sectors.

An affiliate of Peak Rock Capital has completed the sale of TNT Crust LLC to General Mills (NYSE: GIS). TNT, known for its better-for-you pizza crusts, caters to a diverse clientele, including national pizza chains and foodservice distributors. Under Peak Rock's ownership since late 2018, TNT has enhanced its manufacturing capabilities and launched new product lines. The transaction reflects Peak Rock's strategy to support growth in consumer sectors. The new production facility in St. Charles is expected to create over 100 jobs.