General Mills, Inc. (NYSE:GIS) was founded in 1856 and is headquartered in the Golden Valley of Minneapolis, Minnesota, USA, with 39,000 full-time employees. It is a Fortune 500 food company mainly engaged in food production. It is the world’s sixth largest food company (the third largest in the United States) and has many well-known brands, such as: Häagen-Dazs, Wan Chai Dumplings, Hulk, Guo Ran Duo, Betty Crocker and Weibang and many other breakfast cereal brands.
General Mills (GIS):
General Mills Foods is the sixth largest food manufacturing company in the United States, with more than 600 varieties of products and numerous brands, including: Betty Crocker, Yoplait, Colombo, Totino’s, Pillsbury, Old El Paso, Häagen-Dazs, Cheerios, Trix , Cocoa Puffs, and Lucky Charms etc. General Mills has successively established wholly-owned food production plants in Nanjing, Shanghai and Guangzhou, and set up a China marketing headquarters in Shanghai. The well-known brands operated by General Mills in China include: Betty’s wonderful kitchen series of snack foods (such as wonderful crisp corners), Haagen-Dazs ice cream, Wan Chai Wharf and Weibang series of frozen foods.
General Mills, Inc. is mainly supplied to general consumers, catering and bakery companies. Its products include instant grains, refrigerated yogurt, ready-to-drink soups, room temperature and frozen vegetables, ice cream, frozen desserts, refrigerated and frozen dough, desserts and Baking materials, frozen pizza, etc., as well as providing organic food including granola bars, organic grains, soups, etc. General Mills products are sold to grocery stores, mass merchandise stores, chain natural food specialty stores, restaurants, convenience stores, drug stores, $1 stores , discount stores and other channels.
General Mills (GIS) History:
- On June 20, 1856, Minneapolis Milling Company was formally registered and established as the predecessor of General Mills;
- In 1877, Minneapolis Milling Company and John Crosby jointly established Washburn-Crosby Company to produce winter wheat flour;
- In 1880, the Washburn-Crosby flour brand won gold, silver and bronze medals at the Cincinnati Miller International Exhibition;
- In 1924, the company took over a failed Twin Cities radio station, WLAG, and changed its name to WCCO (from Washburn-Crosby Company);
- In June 1928, James Ford Bell, then president of Washburn-Crosby, merged his company with 26 other factories to form General Mills; in the same year, General Mills acquired Wichita Mill and Elevator Company;
- Beginning in 1929, General Mills products included box-top coupons, called Betty Crocker coupons, with different point values, which can be discounted on various household goods in the widely distributed Betty Crocker catalog , The company stopped the coupon and catalog in 2006 and replaced it with a similar “Box Tops for Education” project;
- In 1941, General Mills became a sponsor of the popular radio show “The Lonely”;
- Beginning in 1959, General Mills began sponsoring the Rocky and His Friends TV series, which was later called “The Bullwinkle Show”;
- In 1946, beginning to diversify, General Mills established their Aeronautical Research Division (Aeronautical Research Division), chief engineer Otto C. Winzen, which developed high-altitude balloons, such as Skyhook balloons, together with the U.S. Naval Research Office (ONR); General Mills Electronics Division (Electronics Division) developed the DSV Alvin submersible, which was later used to investigate the wreckage of the Titanic and other deep-sea exploration missions;
- In 1965, it continued to diversify and entered the field of restaurants and toys. General Mills acquired Rainbow Crafts, the manufacturer of Play-Doh;
- In 1970, General Mills acquired a restaurant company with five branches called Red Lobster and expanded it nationwide; later, the company established General Mills Restaurants to manage the Red Lobster restaurant chain;
- In 1980, General Mills acquired the Good Earth health food chain in California;
- In 1982, General Mills Restaurants created a new Italian theme restaurant chain brand called: Olive Garden (Olive Garden);
- In 1985, General Mills’ toy division was spun off from its parent company and established-Kenner Parker Toys, Inc.;
- Before General Mills divested its restaurant business to form Darden Restaurants in 1995 , it also acquired the theme restaurant-China Coast;
- During the same period, General Mills further expanded the professional retail group-successively acquired two apparel brand companies-Talbots and Eddie Bauer, but are they both relatively segmented? Talbots was later purchased by a Japanese company, now JUSCO, and Spiegel The company bought Bauer. Spiegel later declared bankruptcy, but Bauer still exists, even though it is small in the United States today;
- In 1990, General Mills and Nestlé SA established a joint venture company Cereal Partners;
- In 2001, General Mills acquired Pillsbury Company from Diageo ;
- On March 21, 2011, General Mills acquired Yoplait, the world’s second largest yogurt manufacturer, for approximately US$2.2 billion. The shares of Uno are jointly held by French private equity firm PAI Partners and French cooperative dairy group Sodiaal, each accounting for 50%;
- In April 2011, General Mills announced that all 100 playing eggs used each year would be free-range eggs;
- In 2012, General Mills ranked 181st among the Fortune 500’s largest US companies, and 161st in 2015. At the same time, it became the third largest food consumer company in the US ;
- In September 2014, General Mills announced the acquisition of Annie’s Inc., an organic food manufacturer, for US$820 million as part of its strategy to enter the organic food industry;
- In 2015, General Mills pledged to reduce greenhouse gas emissions by 28% within 10 years;
- In December 2016, General Mills announced that it would be reorganized, divided into four business groups based on global regions, and cut as many as 600 jobs;
- On February 23, 2018, General Mills (General Mills) acquired Blue Buffalo Pet Products for $8 billion .