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General Mills
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General Mills (NYSE: GIS) is a Fortune 500 corporation, mainly concerned with food products, which is headquartered in Golden Valley, Minnesota, a suburb of Minneapolis. The company markets several well-known brands, such as Betty Crocker, Yoplait, Colomb, Totinos, Jeno's, Pillsbury, Green Giant, Old El Paso, and Cheerios, to name a few. Their brand portfolio includes more than 100 leading U.S. brands and numerous category leaders around the world. On average, U.S. shoppers place at least one General Mills product into their shopping cart each time they visit the grocery store. [1]
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General Mills is one of the largest packaged food companies in the United States. It produces ready-to-eat breakfast cereals, refrigerated dough and other baking items, snack and convenience foods, frozen vegetables, yogurt, and beverages. Well-known brands include Cheerios, Lucky Charms, Wheaties, Chex, Betty Crocker, Pillsbury, Gold Medal, Green Giant, Hamburger Helper, Old El Paso, Pop Secret, Colombo, and Yoplait. U.S. sales account for 85% of the firm's annual revenues.
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The General Mills family is responsible for popular cereals like Cheerios and Chex, as well as Betty Crocker, Hamburger Helper, and Cascadian Farms Organic. The company has done some great things for consumers, like committing to the use of whole grains in all of its cereals and investing $2 million to create 150 jobs in inner-city Minneapolis at Siyeza, Inc., a company where ownership stake opportunities are offered to employees. However, General Mills has not been forthcoming about its use of genetically engineered products and has fought proposed regulations requiring the labeling of GMO foods. Unfortunately, this leaves concerned consumers in the dark about whether their children are eating genetically modified wheat and corn derivatives. Bottom line: Focus on supporting organic producers by buying cereals made without GMOs. If you are a shareholder or if General Mills makes your cereals of choice, be pro-active about discouraging the company's support of agroscience companies such as Monsanto and Cargill that supply genetically modified products.
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General Mills had divested itself of many of its holdings since 1976, but its surviving businesses had a firm footing in their markets. More than 90 percent of the company's food sales came from products with a first or second place market share position. Streamlining ... had allowed the company to keep up with the rapid pace of new product development. From 1985 to 1988, 24 percent to 29 percent of the food division's growth came from new products.
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Prior to joining Quaker, Shapiro held several positions at General Mills, Inc. He earned a bachelor's degree in political science from Union College in Schenectady, N.Y., and a M.B.A. in marketing and finance from the Kellogg Graduate School of Management at Northwestern University in Evanston, Ill.
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General Mills initiated the Hawthorne Huddle to help an urban Minneapolis neighborhood become a safer place for families to live. Hawthorne Huddle is a monthly meeting that brings together community residents, educators, law enforcement, faith leaders and elected officials to address concerns in this urban community. The Huddle provides a forum for discussing issues and identifying solutions for the community.
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