With strong market share in ready-to-eat cereal, yogurt and packaged foods across the globe, General Mills, Inc. is positioned to exceed its international sales goal of $5 billion in fiscal 2013.
“Outside of the U.S., we’ve taken significant steps over the last two years to create a stronger and broader base of growth,” said Donal Mulligan, chief financial officer, during a Deutsche Bank dbAccess Global Consumer Conference call on June 12.
Recent strategic acquisitions, including Yoki Alimentos in Brazil, Yoplait Canada and Parampara Foods in India, have positioned the company to increase its scale in both emerging and developed economies.
“In fiscal 2014, we expect these new businesses to contribute good sales growth,” said Christopher O’Leary, chief operating officer of the company’s international segment. “With these acquisitions, we’ve already sailed by our 2015 goal of reaching $3.7 billion in international sales.”
