A comprehensive background of General Mills containing its History and Origins, Early Evolution, Modern Business, Global Expansion, Company Structure, Recent Efforts and Company DNA. As one of the chapters of the book FMCG: The Power of Fast-Moving Consumer Goods by authors Greg Thain and John Bradley. For more details on their success story and that of other leading FMCG companies, check www.fmcgbook.com or Amazon http://amzn.to/1jRyd20.

2. History & Origin . . . . . . . . . . . . . . . . . . . 3
Early Evolution . . . . . . . . . . . . . . . . . . . . 4
Global Expansion . . . . . . . . . . . . . . . . . 6
Modern Business . . . . . . . . . . . . . . . . . . 7
Company Structure . . . . . . . . . . . . . . . .9
Recent Efforts . . . . . . . . . . . . . . . . . . . . 11
Company DNA . . . . . . . . . . . . . . . . . . 14
Summary . . . . . . . . . . . . . . . . . . . . . . . .15
Social Media Accounts . . . . . . . . . . . .16
2

3.  Founded on June 22, 1928 by James Ford Bell of Washburn Crosby
 Washburn Crosby, Sperry Flour Company, Kell Group of Mills, and
Larrowe Milling Company had been its original component parts.
 The growing scale of retailers and consumers’ bargaining for lower
prices, were some of the issues that Bell anticipated.
 Bell proposed a full-blown merger of like-minded millers across the
country, to address the issues.
 One of his ideas was to build a new a company with a newly true way
of operating that led him to purchase selected mills.
 After six months since the company’s formation, it added mills in
Wichita Falls, Amarilo, Vernon, Waco, and El Reno.
 Before long, General Mills had 27 associated operating companies in
sixteen states.
 The company become the largest miller in the world.
3

4.  Back in 1880, Washburn Crosby won gold, silver and bronze medal in
the first International Miller’s Exhibition in Cincinnati, with the winning
flour re-christened Gold Medal flour.
 Gold Medal flour and Wheaties cereal were the brands that the
company originally possessed.
 53,000 cases of Wheaties sold in 1929, it had turned to 4.5M in just a
span of ten years, becoming the best-selling cereal in the country
 Betty Crocker brand was born as a response to consumers’
overflowing questions about cooking tips and recipes
 In 1924, Washburn’s infatuation with radio resulted in a half-hour
cooking show, The Betty Crocker Cooking School of the Air, which by
1926 was on NBC
 The 13 Betty Crockers gave live cooking demonstrations across the
country
4

5.  By 1930, the company produced the first Betty Crocker cookbook.
 By 1945, Betty Crocker was the second most-popular woman in
America, after Eleanor Roosevelt
 Cheerioats was launched in 1941 with a tagline “He’s Feeling His
Cheerioats”, that eventually renamed as Cheerios
 From the role of providing demand for its flourmills, General Mills has
turned into an effective packaged goods company with some of the
best brand names in America and abroad.
 In 1953, it marked its first set up abroad through a Canadian subsidiary
 Nestle and General Mills became joint partners in Cereal Partners
Worldwide (CPW) in 1990
 It started operating in the UK and southern Europe on June 1, 1990
 In 1991, Nesquik brand was added
 It partnered with PepsiCo to setup nack Ventures Europe in 1992
5

6.  They take they’re first step with a Canadian subsidiary.
 It then followed by purchasing UK’s Smith’s Crisps.
 Succeedingly, a joint partner in Cereal Partners Worldwide (CPW) with
Nestlé came in 1990
 The acquisition of Pillsbury in 2001, transformed General Mill’s
international presence
 By 2004, it had become the Continental Europe’s leading snack
company, with sales close to $1billion, which led PepsiCo to buy
General Mill’s share
 In 2008, its venture with Nestle had become massive with $3billion
sales in more than 130 countries, on the back of more than 50 brands,
produced in 14 factories
 In 2012, total sales rose to $4.2billion, and it continued to dominate
international market.
6

7.  In the beginning of 1940s, General Mills’ Cheerios became the best-selling
breakfast cereal in America. Betty Crocker, now in her eighth
pictorial, likeness has her image on dozens of easy recipe products
and even Gold Medal is still around
 Launching of Mechanical division in 1940 signaled wider
diversification
 The post-war consumer boom accelerated the brand success
 By 1953, it was generating nearly five times the entire 1930 company
profits
 On the same year, it launched Trix, pre-sweetened cereal
 Edwin W. Rawlings, a new president was appointed in 1962
 It acquired Morton Foods in 1964, and launched Lucky Charm cereal
 In 1996, it bought Tom Houston Peanut Company, and introduced
Bugles
7

8.  It purchased Rainbow Crafts, Parker Bros., and Kenner in 1968
 Lacoste and Monet Jewellery were acquired in 1969
 Acquired Eddie Bauer sportswear and Red Lobster food chain in the
following years
 Sales in 1976 reached $2.6 billion
 In 1977, purchased the US rights to a European yoghurt brand Yoplait
 By 1993, sales reached $8 billion
 In 1995, the restaurants division was spun off as Darden Restaurants
Inc., and General Mills to its fons et origo: a packaged goods
company.
 It bought Ralcorp Holdings Inc. in 1996, the company’s largest
acquisition yet
 Go-GURT, Lloyd’s Barbeque Company, Farmhouse Foods, Gardetto’s
Bakery and Small Planet Foods were purchased on the following years
8

9.  General Mills has been through four distinct phases: a holding
company for flour millers, a milling company with a centralized
packaged goods component, an industrial conglomerate and finally,
after the Pillsbury acquisition, a packaged goods company
 It has two divisions namely Grocery Products and Flour and Feed
 By 1953, Flour and Feed was split, making three more key divisions
along with Grocery Products
 The Chemical division marked the shift of General Mills into non-foods
 Following the sale of the Chemicals division in 1997, Food Processing,
Restaurants, Games and Toys, Fashion and Specialty Retailing all hung
out in the same corporate bar
 Today, the company has three divisions namely US Retail,
International and Bakeries, and Foodservice
9

10.  US Retail (63% of total company) has seven segments:
1. Big G (the breakfast cereals) - $2.4 billion
2. Baking Products - $1.8 billion
3. Frozen Foods - $1.6 billion
4. Snacks - $1.6 billion
5. Meals - $1.5 billion
6. Yoplait (America’s leading brand of yoghurt) - $1.4 billion
7. Small Planet Foods and other - $0.2 billion
 International division has four segments:
1. Europe - $2 billion (almost double the pre-Yoplait purchase level)
2. Canada - $1 billion
3. Asia-Pacific - $0.8 billion
4. Latin America - $0.4 billion
 Bakeries and Foodservice also includes Convenience Stores
10

11. 2004
 General Mills emerged as an $11 billion turnover business in 2004, due
to Pillsbury acquisition
2005
 PepsiCo bought General Mills’ 40.5% stake
2006
 The company had 30 plants and 9,000 employees generating almost
$2 billion in non-US sales
 Nature Valley bars were launched in Europe and India
 Wanchai Ferry appeared in European France
 Cereal Partners Worldwide bought Australia’s Uncle Toby’s brand
11

12. 2007
 Cascadian Farm organic cereals acquisition was successful
2008
 Sales increased by 10%
 Every division in the company grew by at least 5%
 Nature Valley bars were sold in 54 countries
 Wanchai Ferry dumplings grew by another 30% in China
2009
 Acquired Larabar, a range of energy bars made with unprocessed
ingredients
 Haagen Dazs, Old El Paso, Wanchai Ferry and Nature Valley were
more well-established
12

13. 2010
 Digital initiatives on recipe websites such as Tablespoon.com
 Co-branding venture with Good Earth brand
 Launch Yoplait Greek style yoghurt and Chocolate Cheerios
2011
 Acquired 51% controlling interest in Yoplait brand from Sodiaal, and
50% in the company that managed Yoplait’s franchise businesses
2012
 Laucnh Peanut Butter Multi-Grain Cheerios and Fibre One 80 Calories
 Acquisition of Parampara Foods in India
 Yoplait increased sales by 63% primarily in Europe, generating $1.8B
 Wanchai Ferry continue to grow by double digits
 Haagen Dazs made available in over 80 countries
13

14.  General Mills is in the business of meals and snacks, particularly the
ready-to-eat cereals.
 It has been working on convenience meals since the launch of
Hamburger Helper, more than 40 years ago
 Developing brand extensions was the company’s forte, as it adapted
to health and wellness trend
 General Mills has been an excellent brand custodian
 Gold Medal flour, Bisquick, Betty Crocker, and Cheerios have
maintained their relevance in the market
 Betty Crocker now has an iPad app with 50,000 test recipes a year
 Cheerios is America’s best-selling cereal
 Wanchai Ferry and Haagen Dazs are both performing well abroad
14

15.  General Mills has been one of America’s success stories
 It can be considered as North American powerhouse with over $10
billion sales in US, $1 billion in Canada, and $2 billion in Foodservice
and Bakeries
 Though it’s hard to see the company’s growth in North America, the
acquisition of Yoplait can be an opportunity for the much needed
global expansion
15

16. Website: www.generalmills.com
Linkedin: www.linkedin.com/company/general-mills
Facebook: www.facebook.com/pages/General-Mills
Twitter: www.twitter.com/GeneralMills
Instagram: www.instagram.com/generalmills
Youtube: www.youtube.com/user/generalmills
Google Plus: plus.google.com/u/0/+GeneralMills/posts
Tumblr: www.flickr.com/photos/generalmills/
Pinterest: www.pinterest.com/genmills
Flickr: www.pinterest.com/genmills
Blog Page: www.blog.generalmills.com
16