Growth in global markets
At the Consumer Analyst Group of New York (CAGNY) conference, Chris O’Leary, chief operating officer and executive vice president, International, updated investors on how the company is generating topline growth in both developed and emerging markets.
General Mills’ presence in international markets has expanded rapidly.
The Cereal Partners Worldwide joint venture with Nestle – established in 1990 – was the company’s first significant foray outside North America.
The acquisition of Pillsbury gave us a wholly-owned base to build on. And with the acquisitions of Yoplait and Yoki, today fully one-third of General Mills worldwide net sales are generated outside the U.S.
Chris stated at the CAGNY conference last week that General Mills’ strategy for global growth has been focused on fast-growing, attractive categories including ready-to-eat cereal, yogurt, snacks, convenience meals, and super-premium ice cream.
“Our business mix is a growth advantage – several of our key product lines still have relatively low levels of household penetration, even in developed markets. As a result, we see terrific opportunities for our brands,” Chris told investors.
In Greater China, General Mills’ largest emerging market business today, constant currently net sales grew by double digits through the first half of Fiscal 2014.
I had the chance to speak with Chris about our International business, and General Mills’ growth in China and other markets.
You can learn more about Yoki, in Brazil, in this post.
Plus, read about all of our presentations at CAGNY in “8 highlights from General Mills at CAGNY.”