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Last $57.13 USD
Change Today +0.17 / 0.30%
Volume 4.3M
GIS On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

general mills inc (GIS) Key Developments

B&G Foods In Talks To Buy General Mills

B&G Foods Inc. (NYSE:BGS) is is in late-stage discussions to acquire General Mills, Inc. (NYSE:GIS)'s Green Giant frozen and canned vegetable business, people familiar with the matter said. Cerberus Capital Management, L.P., Platinum Equity LLC, Bonduelle SCA , have also made offers for Green Giant. General Mills may choose to engage in negotiations with them if its discussions with B&G are unsuccessful, the sources added. Spokespeople for General Mills, B&G, Cerberus, Platinum Equity and Bonduelle either declined to comment or did not respond immediately to requests for comment.

General Mills Launches The Good Table, New Sauce and Crust Mix for Family Dinner

General Mills launches its newest dinner solutions brand, The Good Table. The new product line of gourmet-style sauce and crust mixes for chicken and fish includes four restaurant-inspired flavors: Parmesan & Herb, Southwest Tortilla and Thai Peanut for Chicken, and Lemon & Herb for fish. The entire line of The Good Table's sauce and crust mixes do not contain added monosodium glutamate, artificial flavors, high fructose corn syrup or colors from artificial sources, making it an excellent choice for family dinner. For families tired of the same old chicken and fish at dinnertime, The Good Table offers a simple way to spice up dinner staples. The Good Table package contains two parts: a coating sauce which keeps meat moist and juicy, as well as crust mix that contains flavorful additions such as tomato pieces, crushed tortilla chips, herbs and peanuts. For a restaurant-inspired meal right from home, consumers simply coat one pound of boneless chicken breast or fish with the sauce, toss with the crust mix and bake. Each The Good Table package also comes with inspired side dish ideas to help families create an easy, well-balanced dinner with better ingredients everyone can enjoy and feel good about. The Good Table products have a suggested retail price of $2.99, and are available at Walmart stores and select retailers nationwide and will be available at additional retailers beginning in October.

General Mills Inc. Closes Frozen Dough Manufacturing Facility in Kaohsiung, Taiwan

General Mills Inc. announced that after several rounds of plant closings and layoffs at home, the company is cutting its international operations as well. The company reported that it closed the frozen dough manufacturing facility in Kaohsiung, Taiwan, that it has operated since 2006. It will offer severance to the plant's 78 laid-off employees. The company has also made what it called a " preliminary decision" to wind down its South African foodservice business and shutter its manufacturing plant in the Linbro Park suburb of Johannesburg. Before finalizing the decision the company will consult with employees and employee representatives. The move would affect production staff and some salaried employees, but did not say how many.

Bonduelle Reportedly Eyeing Green Giant

Bonduelle SA (ENXTPA:BON) may acquire Green Giant International, LLC. Reuters reported citing people familiar with the matter as saying that Bonduelle is in talks with Centerview Partners LLC to purchase General Mills, Inc. (NYSE:GIS) unit.

General Mills, Inc. to Close Two Snack Factories

General Mills, Inc. announced that the company is closing a snack manufacturing facility in Missouri and a snack, cereal and meals plant in suburban Chicago, resulting in the loss of 620 jobs. The company will wrap up operations at its snack manufacturing facility on Junge Boulevard in Joplin, Mo., by the end of 2015. The company has only been operating the location for about a year. The decision will affect 120 workers. The second closure is a plant in West Chicago that has been in operation since 1959. The closure will eliminate 500 jobs. The factory makes cereal, meals and snacks. If all goes according to plan, the plant will shut down by mid-2017, but the decision to close is subject to negotiations with union officials. The closures are a part of 'project century', the plan announced last fall to slim down the North American supply chain. Shortly after Project Century was unveiled, the company it would close two plants in California and Massachusetts. The company will have cut 1,694 manufacturing jobs after this latest round of closures.

 

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Kellogg Co $67.04 USD -0.32
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Industry Analysis

GIS

Industry Average

Valuation GIS Industry Range
Price/Earnings 28.9x
Price/Sales 1.9x
Price/Book 6.8x
Price/Cash Flow 28.0x
TEV/Sales 1.3x
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