General Mills Inc. said its newly acquired international businesses helped lift its net income by 22 percent in the second quarter, but cited a challenging economic environment for raising its profit outlook only modestly for year.
General Mills Inc. said Wednesday that it has completed its acquisition of Brazilian food company Yoki Alimentos SA. The company previously estimated the Yoki buyout would more than double its annual sales in Latin America.
General Mills Inc.'s fiscal fourth-quarter net income edged up 2 percent, lifted by strength abroad and increased prices. The food maker's brands which include Cheerios and Hamburger Helper remain some of the most popular. But like most of its peers, the company has struggled with higher costs for everything from ingredients to labor and been forced to raise prices to offset them.
Food maker General Mills says its board has approved an 8 percent increase to its dividend. The Minneapolis-based maker of Cheerios cereal, Nature Valley granola bars and Hamburger Helper says its new dividend of 33 cents will be paid on Aug. 1 to shareholders of record as of July 10.
Food maker General Mills Inc. said Tuesday it will cut about 850 jobs as part of a plan to lower costs and boost efficiency. The Minneapolis-based maker of Cheerios cereal, Nature Valley granola bars and Hamburger Helper said the moves will make it more effective and allow it to focus on key growth strategies.
The cereal tinkerers who invented Cheerios 71 years ago needed only one variety, the yellow-box original that remains a staple of American breakfast tables.
They would barely recognize what their humble oat concoction has become.
General Mills gave a peek at some of the products it will introduce in 2012, a lineup that includes Dulce de Leche Cheerios and peanut-butter flavored Multi Grain Cheerios. The Golden Valley-based food maker said today that it plans to launch about 50 new products in the first half of 2012. Among them: a lactose-free version of Yoplait yogurt.
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