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Q3 2024 (Q&A)

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Q3 2024 (Q&A)

20 Mar, 2024
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Q3 2024 Prepared Remarks

20 Mar, 2024
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An American Staple in Consumer Foods

General Mills, Inc. is an American company with global operations that produces a large number of various processed consumer foods. Its portfolio includes well-known brands that have become staples in pantries all over the world. It is one of the leaders in the sector, and the company’s products are sold all over the world. General Mills is headquartered in a suburb of Minneapolis, Minnesota, and its shares are listed on the NYSE.

Minneapolis Milling Company

General Mills began as the Minneapolis Milling Company, founded in 1866 by Cadwallader C. Washburn. Initially, it focused on milling wheat into flour, using the flow of the Mississippi to do so. The company introduced a revolutionary milling technique in the 1870s, which produced superior-quality flour and positioned Minneapolis as a milling center in the US.

In 1928, several milling companies, including the Washburn-Crosby Company (successor to Minneapolis Milling Company), merged to form General Mills and in the subsequent decade, the company diversified beyond flour. From the 1960s to the 1990s, the company grew rapidly through acquisitions as well as through the introduction of several now-iconic food products.

Subsidiary Brands

General Mills operates a substantial portion of its business through a diverse range of subsidiary brands, each catering to specific market segments and consumer needs. This model allows the company to maintain a broad and varied product portfolio, appealing to a wide audience. Subsidiaries like Pillsbury, Cheerios, Betty Crocker, and Yoplait, among others, operate under the General Mills umbrella while maintaining individual brand identities. Some similar companies that are also publicly listed are Conagra, Kellogg Company, and J.M. Smucker.

Global Scale

The company operates in well over 100 countries, and General Mills sells a combination of local and international brands around the world. The company's international operations are not just limited to sales; they include a vast network of manufacturing facilities, distribution channels, and supply chains.

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