General Mills, Inc. is a global manufacturer and marketer of branded consumer foods, owning and licensing more than 100 brands (e.g., Cheerios, Betty Crocker, Pillsbury, Häagen-Dazs, Blue Buffalo) sold in about 100 countries across six continents.

# General Mills, Inc.

## Overview
- Global manufacturer and marketer of branded consumer foods with more than 100 brands sold in 100 countries across six continents.
- Four operating segments: North America Retail; International; North America Pet; and North America Foodservice.
- Operates through wholly owned businesses and joint ventures:
  - Cereal Partners Worldwide (CPW) with Nestlé, competing in ready-to-eat cereal outside North America.
  - Häagen-Dazs Japan, Inc. (HDJ), competing in super-premium ice cream in Japan.
- Owns and licenses trademarks across a wide portfolio of brands, including Cheerios, Betty Crocker, Pillsbury, Nature Valley, Häagen-Dazs, Blue Buffalo, Old El Paso, Totino’s, and Trix.

## Scale and footprint
- Production facilities: 41 production facilities worldwide (as of May 31, 2026).
  - North America Retail: multiple U.S. locations (e.g., Covington, GA; Fridley, MN; Wellston, OH).
  - International: facilities in Australia, China, India, Brazil, Spain, France, Greece, and other countries.
  - North America Pet: production sites in Richmond, IN and Joplin, MO.
  - North America Foodservice: facilities in Chanhassen, MN; Joplin, MO; St. Charles, MO; Green Bay, WI.
- Warehousing and distribution: approximately 16 million square feet of warehouse and distribution space (nearly all leased).
- Offices: about 2 million square feet of dedicated sales and administrative offices worldwide.
- Häagen-Dazs outlets: 232 branded ice cream parlors (all leased) and 376 branded parlors franchised outside the United States and Canada.

## Workforce
- Approximately 30,000 employees globally (as of May 31, 2026).
  - About 15,000 in the U.S.; about 15,000 outside the U.S.
  - Production staff: ~12,000; non-production staff: ~18,000.

## Customers
- Primary customers include grocery stores, mass merchandisers, membership stores, natural food chains, drug/dollar/discount chains, e-commerce retailers, foodservice distributors and operators, restaurants, convenience stores, and pet stores.
- Customer concentration:
  - Walmart Inc. and affiliates accounted for 22% of consolidated net sales in fiscal 2026.
  - No other single customer accounted for 10% or more of consolidated net sales.
  - The 22% figure refers to Walmart’s share of total consolidated net sales; 31% of Walmart’s net sales were in the North America Retail segment.

## Financial snapshot
- Total debt and noncontrolling interests: $13.6 billion (as of May 31, 2026).
- Goodwill and indefinite-lived intangible assets: $20.6 billion (as of May 31, 2026).

## Strategic and brand notes
- Brand portfolio includes Annie’s, Betty Crocker, Bisquick, Cheerios, Chex, Cinnamon Toast Crunch, Nature Valley, Pillsbury, Progresso, Old El Paso, Totino’s, Trix, Häagen-Dazs, Blue Buffalo, and others.
- Focus on scale, efficiency, and category leadership to compete in global food markets.
- Uses joint ventures and licensing arrangements to extend presence in international cereal and premium ice cream markets.

## Website and filings
- Corporate site: https://www.generalmills.com
- Filings and investor information available in the Investors section and on the SEC website (www.sec.gov).

General Mills, Inc. is a major global manufacturer and marketer of branded consumer foods, with over 150 years of history and operations in more than 100 countries.

# General Mills, Inc. Company Overview

## Business Description
- **Type of Business:** Major global manufacturer and marketer of branded consumer foods.
- **History:** Over 150 years of operation.
- **Global Reach:** Operates in more than 100 countries across 6 continents.
- **Joint Ventures:** Holds 50% interests in two strategic joint ventures:
  - **Cereal Partners Worldwide (CPW):** With Nestlé S.A., competing in the ready-to-eat cereal market outside North America.
  - **Häagen-Dazs Japan, Inc. (HDJ):** Competing in the super-premium ice cream category in Japan.
- **Business Segments:** Manages operations mainly in four segments:
  - North America Retail
  - International
  - North America Pet
  - North America Foodservice

## Product Categories
- Snacks (grain, fruit, savory snacks, nutrition bars, frozen hot snacks)
- Ready-to-eat cereal
- Convenient meals (meal kits, ethnic meals, pizza, soup, side dish mixes, frozen breakfast, entrees)
- Wholesome natural pet food
- Refrigerated and frozen dough
- Baking mixes and ingredients
- Yogurt
- Super-premium ice cream

## Brands
- Uses over 100 brands including notable trademarks:
  - Annie’s, Betty Crocker, Bisquick, Blue Buffalo, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Toast, Cocoa Puffs, Cookie Crisp, Dunkaroos, Edgard & Cooper, Fiber One, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardetto’s, Gold Medal, Golden Grahams, Häagen-Dazs, Kitano, Kix, Lärabar, Latina, Lucky Charms, Muir Glen, Nature Valley, Nudges, Old El Paso, Pillsbury, Progresso, Tastefuls, Tiki Pets, Total, Totino’s, Trix, True Chews, Yoki.

## Customers
- **Primary Customers:** Grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar, and discount chains, e-commerce retailers, foodservice distributors and operators, restaurants, convenience stores, pet stores.
- **Sales Channels:** Direct sales force, brokers, and distribution arrangements.
- **Key Customer Data:** 
  - Walmart Inc. accounted for 22% of consolidated net sales in FY 2025.
  - No other customer accounted for 10% or more of total sales.

## Financial Metrics (Fiscal Year Ended May 25, 2025)
- **Revenue:** Approximately **$19.5 billion** (net sales declined by 2% from prior year).
- **Net Income:** 
  - **Net earnings attributable to General Mills:** **$2.3 billion**.
- **Employees:** About **33,000 employees worldwide**:
  - Approximately **17,000 in the U.S.**
  - Approximately **16,000 in international markets**
- **Market Capitalization (as of most recent data):** 
  - **Market value of common stock held by non-affiliates:** roughly **$35.9 billion**.
  - **Shares Outstanding:** **542,427,490** (excluding treasury shares).

## Operations and Facilities
- Owns principal executive and research facilities in Minneapolis, Minnesota.
- Operates **42 manufacturing facilities** globally:
  - 28 in the U.S., 3 in Latin America/Mexico, 5 in Europe/Australia, 4 in Greater China, 1 leased in Canada, 1 in Asia/Middle East/Africa.
- Owns and leases significant warehouse and distribution space (>17 million sq. ft.).
- Internationally, operates 332 owned and 387 franchised Häagen-Dazs parlors outside North America.

## Business Strategy and Performance
### Key Goals:
- Long-term net sales growth: 2-3% annually.
- Mid-single digit growth in operating profit.
- Mid-to-high single-digit growth in diluted EPS.
- Free cash flow conversion of at least 95%.
- Return 80-90% of free cash flow to shareholders (dividends and buybacks).

### Fiscal 2025 Highlights:
- Net sales decreased 2% to $19.5 billion.
- Operating profit of $3.3 billion, down 4%.
- Diluted EPS was **$4.10**, down 5%.
- Significant market volatility affected results; increased investment in consumer value.
- Managed strategic portfolio changes including acquisitions and divestitures (e.g., sale of Canadian yogurt business, acquisition of Whitebridge Pet Brands).
- Focused on cost efficiencies with strong cash flow generation (free cash flow ~$2.3 billion, 97% of net earnings).

## Summary
- **Core business:** Branded consumer foods with a diverse product lineup and significant global presence.
- **Customer base:** Wide-reaching retail, foodservice, pet, and e-commerce channels.
- **Employees:** ~33,000 worldwide.
- **Revenue (2025):** ~$19.5 billion.
- **Net income (2025):** ~$2.3 billion.
- **Market Capitalization:** Approximately $35.9 billion.
- **Global operations involve manufacturing, research, and retail facilities across multiple countries.**

General Mills, Inc. is a leading global manufacturer and marketer of branded consumer foods with a diverse portfolio including human and pet food products.

# General Mills, Inc.

## Company profile
- Name: General Mills, Inc.  
- Incorporation: Delaware  
- Headquarters: Minneapolis, Minnesota, USA  
- Established: Over 150 years ago  
- Employees: Approximately 34,000 worldwide  
  - U.S. employees: ~16,000  
  - International employees: ~18,000

## Business operations
General Mills is a global manufacturer and marketer of branded consumer foods, with products in both human and pet food markets. The company reports results across four operating segments:

1. North America Retail  
   - Products: Ready-to-eat cereals, snacks, yogurts, meals, baking mixes, and more.  
   - Primary customers: Grocery stores, mass merchandisers, convenience stores, and e-commerce retailers.  
   - Revenue contribution: $12.5 billion in net sales for fiscal 2024.

2. International  
   - Products: Super-premium ice creams, frozen desserts, salty snacks, and baking mixes.  
   - Markets: Serves approximately 130 countries worldwide.  
   - Revenue contribution: $2.75 billion in net sales for fiscal 2024.

3. Pet  
   - Products: Wholesome natural pet food primarily for dogs and cats.  
   - Distribution: Pet specialty stores, e-commerce retailers, and grocery channels.  
   - Revenue contribution: $2.38 billion in net sales for fiscal 2024.

4. North America Foodservice  
   - Products: Frozen baked goods, baking mixes, and ready-to-eat offerings for foodservice operators.  
   - Customers: Restaurants, convenience stores, and commercial foodservice operators.  
   - Revenue contribution: $2.26 billion in net sales for fiscal 2024.

## Financial performance (fiscal 2024)
- Total revenue: $19.86 billion (down 1% from $20.094 billion in fiscal 2023)  
- Operating profit: $3.43 billion (flat year over year)  
- Net earnings: $2.50 billion  
- Earnings per share (EPS): $4.31 (flat year over year)

## Customer base
- Major customers: Walmart Inc. accounted for 22% of consolidated net sales and 30% of net sales in the North America Retail segment.  
- Channels: Products are sold through grocery stores, e-commerce platforms, mass merchandisers, and foodservice channels.

## Product categories
General Mills markets over 100 brands across six continents, with focus areas that include:
- Snacks (nutrition bars, granola)  
- Ready-to-eat cereals (e.g., Cheerios)  
- Convenient meals (frozen entrees)  
- Pet food (e.g., Blue Buffalo)  
- Baking mixes and ingredients (e.g., Betty Crocker)  
- Dairy products (e.g., yogurt)

## Brand portfolio
Selected brands:
- Cheerios  
- Häagen-Dazs  
- Progresso  
- Yoplait  
- Betty Crocker  
- Nature Valley  
- Pillsbury

## Market position
General Mills operates in a competitive food industry that includes large manufacturers and private-label producers. The company emphasizes innovation and marketing and uses consumer insights to support brand growth and market presence.

## Strategic focus
General Mills is focused on:
- Building strong brand equity  
- Innovating product lines  
- Enhancing supply chain efficiencies  
- Acquiring strategic partners and businesses to broaden reach

## Summary
General Mills combines a long history and a broad brand portfolio to meet consumer needs across multiple channels and markets while adapting to changing consumer preferences and competitive pressures.

GENERAL MILLS INC

10-K / July 1, 2026

10-K / June 26, 2025

10-K / June 26, 2024

10-K / July 1, 2026

General Mills, Inc.

Overview

Scale and footprint

Workforce

Customers

Financial snapshot

Strategic and brand notes

Website and filings