General Mills

General Mills Inc. (NYSE: GIS) is a US multinational manufacturer and marketer of branded processed consumer foods, founded in 1866. The company has been listed on the NYSE since 1928. General Mills’ products are marketed under recognized brands like Annie’s, Nature Valley, Fiber One, and Pillsbury, among others, and the company offers over 100 brands across 100 countries (2022). General Mills has grown through key acquisitions of major brands such as Tyson Pet Products in May 2021 and TNT Crust in May 2022. It generated revenue of USD 20.1 billion in FY2023 (year ending May 28). 

General Mills’ primary product offerings are snacks; ready-to-eat cereal; convenient meals such as meal kits, ethnic meals, pizza, soup, side dish mixes, frozen breakfast, and frozen entrées; refrigerated and frozen dough; baking mixes and ingredients; yogurt; super-premium ice cream; and pet food.

North America was the company’s largest market, accounting for ~88% of total revenue in 2022. General Mills expects to achieve organic net sales growth of 3%–4% in FY2024 (compared with 10% in FY2023) and to grow adjusted operating profit by 4%–6% on a currency-neutral basis in FY2024 (compared with 8% in FY2023). It is also committed to reaching net-zero emissions by 2050.