Sep. 8, 2014, 5:11 PM
- General Mills (NYSE:GIS) boosts its organic and natural foods offerings with an agreement to purchase Annie's (NYSE:BNNY) for $46 per share in cash. The deal will be funded through available credit and the purchase is expected to be accretive to earnings in year one.
- General Mills CEO Jeff Harmening: "We believe that combining the Annie's product portfolio and go-to-market capabilities with General Mills' supply chain, sales and marketing resources will accelerate the growth of our organic and natural foods business."
- BNNY +37.4%, GIS +0.2% AH
Annie's Inc is a natural and organic food company. The Company has natural and organic market position in four product lines: macaroni and cheese, snack crackers, fruit snacks and graham crackers.
Industry: Food - Major Diversified
Country: United States
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