- General Mills (NYSE:GIS) outlined some M&A strategy during its CAGNY talk yesterday.
- "Reshaping our portfolio is something that we intend to continue to do and will probably accelerate," said General Mills CEO Jeff Harmening.
- Harmening said the company will look to shed businesses that are slow growth and lower margins to free up money for M&A.
- "We're going to continue to look for bolt-on acquisitions both in North America and Europe," he noted.
- Barclays issued a favorable appraisal of the "upbeat presentation" from General Mills management. The firm has General Mills rated at Equalweight with a price target of $55.
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Full General Mills presentation (.pdf)