Thu, Jun. 30, 12:51 PM
- Kellogg (K +5.7%), General Mills (GIS +4.9%), Nestle (OTCPK:NSRGY +1.8%)
- Previously: Hershey rises 19% on report of blockbuster buyout offer from Mondelez (June 30)
Wed, Jan. 6, 1:38 PM
- General Mills (GIS -0.2%) announces it acquired EPIC Provisions for an undisclosed amount.
- The deal will give the company a larger presence in the premium meat snacks category.
- EPIC will be run out of the Annie's division.
Sep. 3, 2015, 9:58 AM
- General Mills (GIS +0.7%) announces it will sell its Green Giant and Le Sueur business to B&G Foods (BGS +11.3%) for $765M.
- The company will retain the Green Giant business in Europe under a licensing agreement with B&G.
- Cash from the sale will go toward debt reduction and buybacks.
- A plan to offload Green Giant was reported earlier this year.
Aug. 27, 2015, 4:05 PM
Aug. 19, 2015, 11:38 AM
- Large food companies need to focus on bold M&A and innovation actions over recharging iconic brands, concludes Rabobank in a new report on the sector.
- A shift in consumer preferences has sparked a need to introduce new brands which are on trend - instead of focusing on "innovation-lite" and product reformulation strategies. Buying promising brands at an earlier stage than normal is seen as a forward-thinking strategy.
- Related stocks: KHC, MDLZ, PEP, KO, OTCPK:NSRGY, OTCPK:NSRGF, WWAV, HAIN, K, GIS, POST, CPB, PF, THS.
Jul. 21, 2015, 2:29 AM
- French food group Bonduelle is looking to team up with Centerview Partners in a bid to acquire General Mills' (NYSE:GIS) Green Giant vegetable business, sources told Reuters.
- General Mills reportedly hired investment bank Rothschild to explore a sale of Green Giant in March. The unit has approximately $700M in annual revenue.
Mar. 12, 2015, 9:52 AM
Mar. 11, 2015, 9:52 AM| Mar. 11, 2015, 9:52 AM | 11 Comments
Jan. 29, 2015, 11:03 AM
- The powerful rally in the Swiss Franc has given more M&A firepower to multinationals based in the nation, notes Bloomberg.
- The food industry could see one of the first deals if an emboldened Nestle (OTCPK:NSRGY) decides to make a run at General Mills (GIS -1.9%).
- A combination of Nestle and General Mills has been floated around by analysts before due to the powerful synergies that could be struck between the food giants.
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
May 27, 2014, 7:28 AM
- A $6.4B offer by Pilgrim Pride's (PPC) to buy Hillshire Brands (HSH) could rattle the food sector.
- For starters, the deal could spoil Hillshire's offer on the table to buy Pinnacle Foods (PF).
- The quick analyst take on a PPC-HSH combination is favorable with the companies focused in different areas (chicken vs. packaged meat) which could lead to easy access to new distribution channels.
- Premarket: HSH +22.9% to $45.49, PF -5.3% to $31.50.
- Also on merger watch in the food sector: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K CAG
May 12, 2014, 7:13 AM
- A merger between Hillshire Brands and Pinnacle Foods could kickstart the consolidation frenzy in the food industry analysts have been forecasting.
- The sector has been tapped to see a high rate of mergers and buyouts due to the significant synergies that could be unleashed through combinations.
- On watch: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K, CAG
May 24, 2012, 10:06 AM
General Mills (GIS +0.7%) buys Brazilian firm Yoki Alimentos for 1.75B reais ($857M) in a deal that will help the company increase its presence in Latin American food markets. As part of the arrangement, the company will assume 200M reais ($98M) in outstanding debt.| May 24, 2012, 10:06 AM
Feb. 29, 2012, 6:10 PMGeneral Mills (GIS) is acquiring natural snack foods company Food Should Taste Good for an undisclosed sum. The company will be added to General Mills' natural/organic foods business, which includes the Cascadian Farm, Muir Glen, and LÄRABAR brands. The acquisition is part of a broader trend among large foodmakers to expand their offerings of high-margin "healthy" food and drink items. | Feb. 29, 2012, 6:10 PM | 1 Comment
Feb. 13, 2012, 10:45 AMGeneral Mills (GIS +0.6%) reportedly agrees to buy Brazil's Yoki for 2B reais ($1.16B) in a deal that would once again give GIS factories in Latin America's largest consumer market after a fire destroyed a pasta plant in 2007 and GIS sold a snack maker in 2009. Yoki has nine factories in Brazil, making snacks, juices and popcorn. | Feb. 13, 2012, 10:45 AM
May 20, 2011, 8:47 AM
Sources say Ralcorp (RAH) has been shopping around its Post cereals division to GIS, PEP, K, BGS and even BX and KKR in recent weeks, but has found little interest in the ~$2B unit. It's questionable whether a sale would give RAH enough firepower to fend off ConAgra (CAG), but no sale means it will need to rely on its poison pill and legal red-tape to block the deal.| May 20, 2011, 8:47 AM