Corporate Profiles - 2024 - 74

COMPANY overview
sure we have the most remarkable total product offering
across our mix, better than our competitors, "
she said. " And that will mean product news and
new products, advertising and communications, instore
execution, better than the rest. "
General Mills is tapping into the popularity of
National Football League star Travis Kelce and his
brother Jason Kelce, a former NFL star, to launch
the Kelce Mix breakfast cereal. Inspired by the
brothers' love for breakfast cereals, the new mix
combines three of their favorite General Mills
breakfast cereal brands: Cinnamon Toast Crunch,
Lucky Charms and Reese's Puffs.
Also in the cereal aisle, General Mills introduced
Wheaties Protein, its first line extension to
the Wheaties ready-to-eat cereal brand in more
than a decade. General Mills claims the cereal
has the " highest protein offering in the cereal
aisle " with more than 20 grams of protein in
every serving.
The company also this past spring took the Totino's
brand into the frozen breakfast aisle with the
launch of breakfast snack bites. The new snacks,
which can be microwaved in two minutes, come
in three flavors: pork shoulder bacon and cheese
scramble; sausage and cheese scramble; and
cheesy chorizo scramble.
" Thirty percent of our portfolio has got news;
that's double what we had last year, " McNabb said.
" We're looking at new products. Last year, we did
about 3.5% of our net sales on new products.
We're bringing that up to 5%. "
After mentioning several times over the past
year the challenges facing the yogurt category,
General Mills made the move in September to
move on from the segment. The company agreed to
sell its North American yogurt business to Lactalis
and Sodiaal, two French dairy cooperatives, in a
deal valued at $2.1 billion.
The divestitures include the US and Canada operations
of several yogurt brands including Yoplait,
Liberté, Go-Gurt, Oui, Mountain High, and :ratio,
as well as manufacturing facilities in Murfreesboro,
Tenn.; Reed City, Mich.; and Saint-Hyacinthe,
Québec. Collectively, the North American yogurt
business contributed approximately $1.5 billion to
General Mills, Inc.
North America Retail
Fiscal 2024
(fiscal year ended in May)
in millions
Net
sales
Operating
income (loss)
Source: General Mills, Inc.
$12,473
-1.5%
$3,080
-3.2%
General Mills, Inc.
International
Fiscal 2024
(fiscal year ended in May)
in millions
Net
sales
Operating
income (loss)
Source: General Mills, Inc.
$2,747
-0.8%
$125
-22.6%
change from
prior year
change from
prior year
VALUE ADDED
INGREDIENTS
* Potato Starch
* Tapioca Starch
* Potato Protein
* VitaFiber® IMO
* Sugar
* Wheat Gluten
* Pea Starch
* Pea Protein
* Pea Fiber
* Dextrose
* Wheat Starch
Service.
Transparency.
Peace of Mind.
www.mgbingredients.com
3723 Beck Rd., Ste. A
St. Joseph, MO 64506
816-749-4330
74 \ October 2024
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Corporate Profiles - 2024

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