Milling & Baking News Corporate Profiles - 2017 - 88

Company Overview

Global Consumer Staples Conference in Boston, Mr. Mulligan expanded on the possibilities of e-commerce.
"We believe we have the capabilities to
win in e-commerce, and we expect this channel to drive a significant amount of growth
over the next few years," he explained. "In
fact, we're targeting e-commerce to grow
from about 1.5% of our U.S. retail sales last
year to at least 5% by fiscal '20.
"We're confident that e-commerce is an
opportunity for General Mills in the U.S.
because we're investing in capabilities and

'We're also investing behind
capabilities like e-commerce and
strategic revenue management that
are critical to future growth, showing
how bringing to life our e-commerce
investment is creating advantage for
General Mills, and we're penetrating
new geographies by bringing Yoplait
to more cities in China and expanding
Häagen-Dazs stick bars around
the world.'
- Jeffrey L. Harmening,
General Mills, Inc.

partnerships, and we're seeing early wins.
In addition, we can look at other more developed e-commerce markets for an indication
of where the U.S. is likely to go. For example,
e-commerce already represents 7% of all
food retail sales in the U.K. And in that market where private label penetration in food is
twice as high as in the U.S. and retailers have
every opportunity to push their own brands
on-line, private label market shares on-line
are only 65% of the level they are in traditional channels. Conversely, our brands do
quite well. Our market share in the U.K. is
almost 30% higher on-line than in the physical store, and we're seeing similar trends as

88 \ October 2017

consumers shift to full basket in the U.S."
In its North American Retail unit, General
Mills has identified several key priorities for
fiscal '18: improve performance in U.S. cereal; reshape its U.S. yogurt portfolio; differentially grow snack bars, hot snacks and Mexican food business; invest in key foundation
brands to drive sustainable profit growth;
and continue to rapidly grow the company's
natural and organic portfolio.
A focus on wellness and taste are seen as
key points of emphasis to drive growth in cereal sales, while new products are being introduced in U.S. yogurt, including Oui by Yoplait.
During the Barclays presentation Mr. Mulligan
said Oui by Yoplait's retail sales to date have
been tracking well ahead of the largest launches in the category over the past five years.
"Distribution for the line is still growing
with some major customers having reset their
shelves recently," he said. "And advertising
support is just beginning for the brand."
In the baking aisle, Mr. Harmening said General Mills will be differentiating on the shelf
with the launch of a more premium version of
cake and cookies mixes, using the Betty Crocker Ultimate brand for a more indulgent line of
cookie mixes and the Betty's Original brand for
its simple ingredient cake mix line.
General Mills expects to remain active in
pursuing mergers and acquisitions, but Mr.
Mulligan noted that the 2014 purchase of
Annie's has tempered the need to be too aggressive on the acquisition front.
"It (Annie's) was in a handful of categories that we've expanded, which, frankly, has
allowed us to avoid having to do other acquisitions," he said. "So, we've done organic growth in the organic segment because
of the expandability of Annie's, and that is
what's made that acquisition, which may
have looked expensive to some on day 1, a
high return acquisition for us.
"The other (issue), frankly, is they're still
expensive. You have to be selective. We're not
going to throw capital away to chase growth if
we know there's no return profile." CP

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry

General Mills, Inc.
North America retail
in millions
Fiscal 2017
ended in May
Net sales
$10,196.9
Operating
profit
$2,303.6

% change
from
year ago
-6.8%

-2.0%

General Mills, Inc.
convenience stores
and foodservice
in millions
Fiscal 2017
ended in May
Net sales
$1,870
Operating
profit
$401.2

% change
from
year ago
-2.8%

+5.9%

General Mills, Inc.
Europe and Australia
in millions
Fiscal 2017
ended in May
Net sales
$1,824.5
Operating
profit
$164.2

% change
from
year ago
-8.7%

-18%

General Mills, Inc.
Asia and Latin
America
in millions
Fiscal 2017
ended in May
Net sales
$1,870
$1,728.4
Operating
profit
$83.6

% change
from
year ago
1.4%

21%

Corporate Profiles



Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - 2017

Corporate Profiles - 2017
Contents
Editorial - Peeling through deep layers of change in food industry
Grain-based foods - Slow growth in baking has category leaders searching for answers
Packaged foods - Frozen innovation shakes up challenged category
Beverages - Bottled water, energy drinks charge ahead
Meat and poultry - Consumer demand accelerates as market recovers from impact of drought and avian influenza
Dairy - Milk in many forms affects the dairy category
Confectionery - Transparency ahead, consolidation on the horizon?
Food service - Healthy and clean menu items, technology and value drive traffic
Trend of the year - Retail revolution: Retail market for food and beverages undergoing dramatic changes
Aryzta AG
Grupo Bimbo S.A.B. de C.V.
Campbell Soup Co.
The Coca-Cola Co.
Conagra Brands, Inc.
Danone S.A.
Flowers Foods, Inc.
General Mills, Inc.
Hain Celestial Group, Inc.
The Hershey Co.
Hormel Foods Corp.
Hostess Brands, Inc.
JAB Holding Co.
The Kellogg Co.
Kraft Heinz Co.
McCormick & Co.
Mondelez International, Inc.
Nestle S.A.
PepsiCo, Inc.
Pinnacle Foods, Inc.
Post Holdings, Inc.
Snyder's-Lance, Inc.
Starbucks Coffee Co.
TreeHouse Foods, Inc.
Tyson Foods, Inc.
Ad Index
Milling & Baking News Corporate Profiles - 2017 - Corporate Profiles - 2017
Milling & Baking News Corporate Profiles - 2017 - 2
Milling & Baking News Corporate Profiles - 2017 - 3
Milling & Baking News Corporate Profiles - 2017 - 4
Milling & Baking News Corporate Profiles - 2017 - 5
Milling & Baking News Corporate Profiles - 2017 - Contents
Milling & Baking News Corporate Profiles - 2017 - 7
Milling & Baking News Corporate Profiles - 2017 - Editorial - Peeling through deep layers of change in food industry
Milling & Baking News Corporate Profiles - 2017 - 9
Milling & Baking News Corporate Profiles - 2017 - Grain-based foods - Slow growth in baking has category leaders searching for answers
Milling & Baking News Corporate Profiles - 2017 - 11
Milling & Baking News Corporate Profiles - 2017 - 12
Milling & Baking News Corporate Profiles - 2017 - 13
Milling & Baking News Corporate Profiles - 2017 - 14
Milling & Baking News Corporate Profiles - 2017 - 15
Milling & Baking News Corporate Profiles - 2017 - 16
Milling & Baking News Corporate Profiles - 2017 - 17
Milling & Baking News Corporate Profiles - 2017 - 18
Milling & Baking News Corporate Profiles - 2017 - 19
Milling & Baking News Corporate Profiles - 2017 - 20
Milling & Baking News Corporate Profiles - 2017 - 21
Milling & Baking News Corporate Profiles - 2017 - 22
Milling & Baking News Corporate Profiles - 2017 - 23
Milling & Baking News Corporate Profiles - 2017 - 24
Milling & Baking News Corporate Profiles - 2017 - 25
Milling & Baking News Corporate Profiles - 2017 - Packaged foods - Frozen innovation shakes up challenged category
Milling & Baking News Corporate Profiles - 2017 - 27
Milling & Baking News Corporate Profiles - 2017 - 28
Milling & Baking News Corporate Profiles - 2017 - 29
Milling & Baking News Corporate Profiles - 2017 - 30
Milling & Baking News Corporate Profiles - 2017 - Beverages - Bottled water, energy drinks charge ahead
Milling & Baking News Corporate Profiles - 2017 - 32
Milling & Baking News Corporate Profiles - 2017 - 33
Milling & Baking News Corporate Profiles - 2017 - 34
Milling & Baking News Corporate Profiles - 2017 - 35
Milling & Baking News Corporate Profiles - 2017 - 36
Milling & Baking News Corporate Profiles - 2017 - 37
Milling & Baking News Corporate Profiles - 2017 - Meat and poultry - Consumer demand accelerates as market recovers from impact of drought and avian influenza
Milling & Baking News Corporate Profiles - 2017 - 39
Milling & Baking News Corporate Profiles - 2017 - 40
Milling & Baking News Corporate Profiles - 2017 - 41
Milling & Baking News Corporate Profiles - 2017 - Dairy - Milk in many forms affects the dairy category
Milling & Baking News Corporate Profiles - 2017 - 43
Milling & Baking News Corporate Profiles - 2017 - 44
Milling & Baking News Corporate Profiles - 2017 - 45
Milling & Baking News Corporate Profiles - 2017 - 46
Milling & Baking News Corporate Profiles - 2017 - 47
Milling & Baking News Corporate Profiles - 2017 - Confectionery - Transparency ahead, consolidation on the horizon?
Milling & Baking News Corporate Profiles - 2017 - 49
Milling & Baking News Corporate Profiles - 2017 - 50
Milling & Baking News Corporate Profiles - 2017 - 51
Milling & Baking News Corporate Profiles - 2017 - 52
Milling & Baking News Corporate Profiles - 2017 - 53
Milling & Baking News Corporate Profiles - 2017 - Food service - Healthy and clean menu items, technology and value drive traffic
Milling & Baking News Corporate Profiles - 2017 - 55
Milling & Baking News Corporate Profiles - 2017 - 56
Milling & Baking News Corporate Profiles - 2017 - 57
Milling & Baking News Corporate Profiles - 2017 - Trend of the year - Retail revolution: Retail market for food and beverages undergoing dramatic changes
Milling & Baking News Corporate Profiles - 2017 - 59
Milling & Baking News Corporate Profiles - 2017 - 60
Milling & Baking News Corporate Profiles - 2017 - 61
Milling & Baking News Corporate Profiles - 2017 - 62
Milling & Baking News Corporate Profiles - 2017 - 63
Milling & Baking News Corporate Profiles - 2017 - 64
Milling & Baking News Corporate Profiles - 2017 - 65
Milling & Baking News Corporate Profiles - 2017 - 66
Milling & Baking News Corporate Profiles - 2017 - 67
Milling & Baking News Corporate Profiles - 2017 - Aryzta AG
Milling & Baking News Corporate Profiles - 2017 - 69
Milling & Baking News Corporate Profiles - 2017 - Grupo Bimbo S.A.B. de C.V.
Milling & Baking News Corporate Profiles - 2017 - 71
Milling & Baking News Corporate Profiles - 2017 - 72
Milling & Baking News Corporate Profiles - 2017 - 73
Milling & Baking News Corporate Profiles - 2017 - Campbell Soup Co.
Milling & Baking News Corporate Profiles - 2017 - 75
Milling & Baking News Corporate Profiles - 2017 - The Coca-Cola Co.
Milling & Baking News Corporate Profiles - 2017 - 77
Milling & Baking News Corporate Profiles - 2017 - Conagra Brands, Inc.
Milling & Baking News Corporate Profiles - 2017 - 79
Milling & Baking News Corporate Profiles - 2017 - Danone S.A.
Milling & Baking News Corporate Profiles - 2017 - 81
Milling & Baking News Corporate Profiles - 2017 - Flowers Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 83
Milling & Baking News Corporate Profiles - 2017 - 84
Milling & Baking News Corporate Profiles - 2017 - 85
Milling & Baking News Corporate Profiles - 2017 - General Mills, Inc.
Milling & Baking News Corporate Profiles - 2017 - 87
Milling & Baking News Corporate Profiles - 2017 - 88
Milling & Baking News Corporate Profiles - 2017 - 89
Milling & Baking News Corporate Profiles - 2017 - Hain Celestial Group, Inc.
Milling & Baking News Corporate Profiles - 2017 - 91
Milling & Baking News Corporate Profiles - 2017 - The Hershey Co.
Milling & Baking News Corporate Profiles - 2017 - 93
Milling & Baking News Corporate Profiles - 2017 - Hormel Foods Corp.
Milling & Baking News Corporate Profiles - 2017 - 95
Milling & Baking News Corporate Profiles - 2017 - Hostess Brands, Inc.
Milling & Baking News Corporate Profiles - 2017 - 97
Milling & Baking News Corporate Profiles - 2017 - JAB Holding Co.
Milling & Baking News Corporate Profiles - 2017 - 99
Milling & Baking News Corporate Profiles - 2017 - The Kellogg Co.
Milling & Baking News Corporate Profiles - 2017 - 101
Milling & Baking News Corporate Profiles - 2017 - 102
Milling & Baking News Corporate Profiles - 2017 - 103
Milling & Baking News Corporate Profiles - 2017 - Kraft Heinz Co.
Milling & Baking News Corporate Profiles - 2017 - 105
Milling & Baking News Corporate Profiles - 2017 - McCormick & Co.
Milling & Baking News Corporate Profiles - 2017 - 107
Milling & Baking News Corporate Profiles - 2017 - Mondelez International, Inc.
Milling & Baking News Corporate Profiles - 2017 - 109
Milling & Baking News Corporate Profiles - 2017 - Nestle S.A.
Milling & Baking News Corporate Profiles - 2017 - 111
Milling & Baking News Corporate Profiles - 2017 - PepsiCo, Inc.
Milling & Baking News Corporate Profiles - 2017 - 113
Milling & Baking News Corporate Profiles - 2017 - Pinnacle Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 115
Milling & Baking News Corporate Profiles - 2017 - Post Holdings, Inc.
Milling & Baking News Corporate Profiles - 2017 - 117
Milling & Baking News Corporate Profiles - 2017 - Snyder's-Lance, Inc.
Milling & Baking News Corporate Profiles - 2017 - 119
Milling & Baking News Corporate Profiles - 2017 - Starbucks Coffee Co.
Milling & Baking News Corporate Profiles - 2017 - 121
Milling & Baking News Corporate Profiles - 2017 - TreeHouse Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 123
Milling & Baking News Corporate Profiles - 2017 - Tyson Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 125
Milling & Baking News Corporate Profiles - 2017 - Ad Index
Milling & Baking News Corporate Profiles - 2017 - 127
Milling & Baking News Corporate Profiles - 2017 - 128
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