General Mills Eyes Organic, Natural Food Growth
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The future of General Mills could depend as much on Larabar and Annie’s as Cheerios and Betty Crocker, according to growth plans the company outlined on Tuesday.
The global food giant wants to grow its $600 million natural and organic food business to $1 billion by 2020, executives told investment analysts. The ambitious plan is a reflection of the reality that smaller, healthier food brands once considered niche are quickly going mainstream. The consumer shift has caused headaches for big food companies that for decades have relied on selling mass-marketed, heavily processed foods.
Earnings growth for big companies “looks increasingly hard to come by,” with consumers “shifting into healthier eating patterns,” Sanford C. Bernstein stated in a recent report.
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