Add-on Acquisition • Food

General Mills Acquires Annie s

On September 8, 2014, General Mills acquired food company Annie s for 820M USD

Acquisition Context
  • This is General Mills’ 12th transaction in the Food sector.
  • This is General Mills’ 6th largest (disclosed) transaction.
  • This is General Mills’ 11th transaction in the United States.
  • This is General Mills’ 1st transaction in California.

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M&A Deal Summary

Date September 8, 2014
Target Annie s
Sector Food
Buyer(s) General Mills
Deal Type Add-on Acquisition
Deal Value 820M USD
Advisor(s) J.P. Morgan Securities (Financial)
Proskauer Rose (Legal)

Target Company

Annie s

Berkeley, California, United States
Annie's, Inc. is a natural and organic food company that offers great-tasting products in large packaged food categories. Annie's products are made without artificial flavors, synthetic colors, and preservatives regularly used in many conventional packaged foods.
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Buyer Overview 1

Buyer

General Mills

Minneapolis, Minnesota, United States

Category Company
Founded 1866
Sector Food
Employees34,000
Revenue 19.9B USD (2024)
DESCRIPTION
Entrance to General Mills' corporate headquarters in Minneapolis.
Entrance to General Mills' corporate headquarters in Minneapolis.

General Mills is a multinational manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the foodservice and commercial baking industries. General Mills' portfolio includes a wide range of well-known brands such as Cheerios, Yoplait, Betty Crocker, Pillsbury, Haagen-Dazs, Annie's Homegrown, and Nature Valley, among others. The company's products encompass various categories, including cereals, yogurt, snack bars, meal kits, ready-to-eat meals, and frozen desserts. General Mills was founded in 1866 and is based in Minneapolis, Minnesota.


Deal Context for Buyer #
Overall 13 of 21
Sector: Food 12 of 19
Type: Add-on Acquisition 11 of 17
State: California 1 of 2
Country: United States 11 of 17
Year: 2014 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Immaculate Baking Co.

Wakefield, Massachusetts, United States

Immaculate Baking Co. is a manufacturer and marketer of all-natural and organic refrigerated dough products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-03 Green Giant

Parsippany, New Jersey, United States

Green Giant is a provider of nutritious vegetable food products. Green Giant is based in Parsippany, New Jersey.

Sell $765M