General Mills executives have discussed plans to fuel growth in the US and around the world in the company’s new fiscal year at a meeting with investors at the New York Stock Exchange.
General Mills chairman and CEO Ken Powell, said: “In fiscal 2013, we want to generate growth in our core, developed markets, while expanding our presence in emerging markets worldwide.
“Our goal is to deliver consistent, high-quality sales and earnings growth. Our strategies are designed to generate balanced growth across our portfolio.”
General Mills expects fiscal 2013 to be another year of good growth, said Powell, with sales and profit increases on its base business and contributions from newly acquired operations, including Yoplait International, Parampara in India, and Food Should Taste Good in the US.
The company also signed an agreement in May to acquire Yoki Alimentos in Brazil, which is expected to close in the first half of fiscal 2013.
Across Europe, the company plans to drive its Häagen-Dazs business through expansion of Secret Sensations ice cream mini-cups, both expanding to new markets and by introducing a new flavour and package size. General Mills is also integrating its Häagen-Dazs advertising efforts across shops and retail locations with its 'Anticipated Like No Other' global advertising campaign.
In France, General Mills is launching new varieties of Calin, a functional yogurt high in calcium, and is expanding Calin to the UK market this summer. General Mills also recently expanded its European yogurt business by reacquiring the Ireland Yoplait license.
In Brazil, General Mills has a modest but growing business, focused largely on Häagen-Dazs and Nature Valley.
Within its international business, China is leading General Mills’ international growth, driven by its four key brands there: Häagen-Dazs super-premium ice cream, Wanchai Ferry frozen convenience meals, and Bugles and Trix wholesome snack products.
In fiscal 2013, General Mills plans to open 50 additional Häagen-Dazs shops in China. By the end of 2013, General Mills will operate more than 250 shops there.
The company said it plans to reach $900m sales for its wholly owned businesses in China by 2015.
Source: General Mills
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