About General Mills Inc

General Mills, Inc. operates as a global manufacturer and marketer of branded consumer foods. The company has more than 100 brands in 100 countries across six continents. In addition to its consolidated operations, the company has 50 percent interests in two strategic joint ventures that manufacture and market food products sold in more than 130 countries worldwide. The company offers a variety of human and pet food products for consumers around the world. The company’s business is focused on the following large, global categories, such as snacks, including grain, fruit and savory snacks, nutrition bars, and frozen hot snacks; ready-to-eat cereal; convenient meals, including meal kits, ethnic meals, pizza, soup, side dish mixes, frozen breakfast, and frozen entrees; wholesome natural pet food; refrigerated and frozen dough; baking mixes and ingredients; yogurt; and super-premium ice cream. The company’s Cereal Partners Worldwide (CPW) joint venture with Nestle S.A. (Nestle) competes in the ready-to-eat cereal category in markets outside North America, and its Häagen-Dazs Japan, Inc. (HDJ) joint venture competes in the super-premium ice cream category in Japan. Segments The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. North America Retail This segment reflects business with a wide variety of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, convenience stores, and e-commerce grocery providers. The company’s product categories in this business segment are ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, savory snacks, and a wide variety of organic products, including ready-to-eat cereal, frozen and shelf-stable vegetables, meal kits, fruit snacks and snack bars. International This segment reflects retail and foodservice businesses outside of the United States and Canada. The company’s product categories include super-premium ice cream and frozen desserts, meal kits, salty snacks, snack bars, dessert and baking mixes, and shelf stable vegetables. Pet This segment includes pet food products sold primarily in the United States and Canada in national pet superstore chains, e-commerce retailers, grocery stores, regional pet store chains, mass merchandisers, and veterinary clinics and hospitals. The company’s product categories include dog and cat food (dry foods, wet foods, and treats) made with whole meats, fruits, and vegetables and other high-quality natural ingredients. Its tailored pet product offerings address specific dietary, lifestyle, and life-stage needs and span different product types, diet types, breed sizes for dogs, life stages, flavors, product functions, and textures and cuts for wet foods. North America Foodservice The company’s major product categories in this segment are ready-to-eat cereals, snacks, refrigerated yogurt, frozen meals, unbaked and fully baked frozen dough products, baking mixes, and bakery flour. Many products that the company sells are branded to the consumer and nearly all are branded to its customers. The company sells to distributors and operators in many customer channels, including foodservice, vending, and supermarket bakeries. Customers The company’s primary customers are grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, e-commerce retailers, commercial and noncommercial foodservice distributors and operators, restaurants, convenience stores, and pet specialty stores. It sells to these customers through its direct sales force. The company uses broker and distribution arrangements for certain products and to serve certain types of customers and certain markets. During the year ended May 28, 2023, Walmart Inc. and its affiliates (Walmart) accounted for 21 percent of the company’s consolidated net sales and 28 percent of net sales of its North America Retail segment. Trademarks and Patents The company’s products are marketed under a variety of valuable trademarks. Some of the more important trademarks used in its global operations include Annie’s, Betty Crocker, Bisquick, Blue Buffalo, Blue Basics, Blue Freedom, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, EPIC, Fiber One, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardetto's, Gold Medal, Golden Grahams, Häagen-Dazs, Kitano,Kix, Lärabar, Latina, Lucky Charms, Muir Glen, Nature Valley, Nudges, Oatmeal Crisp, Old El Paso, Pillsbury, Progresso, Raisin Nut Bran, Total, Top Chews Naturals, Totino’s, Trix, True Chews, Wanchai Ferry, Wheaties, Wilderness, and Yoki. Some of the company’s products are marketed under or in combination with trademarks that have been licensed from others for both long-standing products (e.g., Reese’s Puffs for cereal, Green Giantfor vegetables in certain countries, and Yoplait and related brands for fresh dairy in the United States and Canada), and shorter term promotional products (e.g., fruit snacks sold under various third party equities). The company’s cereal trademarks are licensed to CPW and may be used in association with the Nestle trademark. Nestle licenses certain of its trademarks to CPW, including the Nestle and Uncle Toby’s trademarks. The Häagen-Dazs trademark is licensed royalty-free and exclusively to Nestle and authorized sublicensees for ice cream and other frozen dessert products in the United States and Canada. The Häagen-Dazs trademark is also licensed to HDJ in Japan. The Pillsbury brand and the Pillsbury Doughboy character are subject to an exclusive, royalty-free license that was granted to a third party and its successors in the dessert mix and baking mix categories in the United States and under limited circumstances in Canada and Mexico. Seasonality In general, demand for the company’s products is evenly balanced throughout the year. However, within its North America Retail segment demand for refrigerated dough, frozen baked goods, and baking products is stronger in the fourth calendar quarter (year ended May 2023). Demand for Progresso soup is higher during the fall and winter months. Within the company’s International segment, demand for Häagen-Dazs ice cream is higher during the summer months and demand for baking mix increases during winter months. Due to the offsetting impact of these demand trends, as well as the different seasons in the northern and southern hemispheres, the company’s International segment’s net sales are generally evenly balanced throughout the year. Regulation In the United States, the company’s activities are subject to regulation by various federal government agencies, including the Food and Drug Administration, Department of Agriculture, Federal Trade Commission, Department of Commerce, Occupational Safety and Health Administration, and Environmental Protection Agency, as well as various federal, state, and local agencies relating to the production, packaging, labelling, marketing, storage, distribution, quality, and safety of food and pet products and the health and safety of its employees. Environmental Matters The company’s operations are subject to the Clean Air Act; Clean Water Act; Resource Conservation and Recovery Act; Comprehensive Environmental Response, Compensation, and Liability Act; and the Federal Insecticide, Fungicide, and Rodenticide Act, as well as all similar state, local, and foreign environmental laws and regulations applicable to the jurisdictions in which it operates. History General Mills, Inc. was founded in 1866. The company was incorporated in Delaware in 1928.

Country
Industry:
Grain mill products
Founded:
1866
IPO Date:
01/02/1968
ISIN Number:
I_US3703341046
Address:
Number One General Mills Boulevard, Minneapolis, Minnesota, 55426, United States
Phone Number
763 764 7600

Key Executives

CEO:
Harmening, Jeffrey
CFO
Bruce, Kofi
COO:
Data Unavailable