|
| |
|
| |
Public ( NYSE : ''' GIS ''')
|
| |
The Company of Champions
|
| |
1866
|
| |
HQ in Golden Valley, Minnesota manufacturing facilities around the world
|
| |
Steve Sanger , Chairman and CEO<br \> Ken Powell , Vice Chairman
|
| |
Food Processing
|
| |
Baking Mixes , Breakfast Cereal s, Yogurt , refrigerated Dough , Soup , Pizza , Snack Food s, Ice Cream , Soy products, Vegetable s, Flour , and More
|
| |
$11070 billion USD ( 2004 )
|
() is a
Fortune 500 Corporation , mainly concerned with
Food products, which is headquartered in
Golden Valley, Minnesota , a
Suburb of
Minneapolis . The company markets such
Brand s as
Betty Crocker ,
Progresso ,
Yoplait , and
Pillsbury , as well as numerous well-known
Breakfast Cereal s (see below).
The company can trace its history to the , an organization founded in 1856 by
Cadwallader C. Washburn which leased power rights to
Mill s operating along
Saint Anthony Falls on the
Mississippi River . His brother
William D. Washburn also assisted in the company's development. In 1866, the Washburns got into the business themselves, building the Washburn "B" Mill at the falls. At the time, the building was considered to be so large and output so vast that it could not possibly sustain itself. However, the company succeeded and in 1874 he built the even bigger
Washburn "A" Mill .
In
1877 , the mill entered a partnership with
John Crosby to form the . A year later, the "A" mill exploded, killing 17 workers and also demolishing several nearby buildings. The mill was rebuilt and continued to operate for several decades. In the 1920s, the company stepped in to take over a failing
Twin Cities Radio Station , renaming it
WCCO .
General Mills was created in 1928 when Washburn-Crosby President
James Ford Bell directed his company to merge with 26 other mills.
In
1970 , General Mills acquired a five-unit restaurant company called
Red Lobster and expanded it nationwide. Soon, a division of General Mills titled General Mills Restaurants developed to take charge of the Red Lobster Chain. In 1982, General Mills Restaurants founded a new Italian themed restaurant chain called
Olive Garden . General Mills spun off its Restaurant division in 1995 into
Darden Restaurants, Inc.
In
1988 , General Mills sold , which was the parent company of both
Eddie Bauer (sold to
Spiegel, Inc. ) and
Talbots .
In
1990 , General Mills and Nestlé started a 50/50 joint venture called
Cereal Partners Worldwide to market breakfast cereals for both the
United States and
Europe . CPW distributes cereals manufactured by both companies under the
Nestlé brand name.
The company merged with Pillsbury in
2001 . While many of the Pillsbury-branded products are still manufactured by General Mills, some products had to be sold off to allow the merger since the new company would have held a very strong
Monopoly position. However the
Diageo group of companies still stands strong without
Pillsbury .
In October of 2004, the General Mills
Monster -themed triple pack
Breakfast Cereals were introduced in supermarkets and wholesale retail stores, featuring
Boo Berry (
Blueberry -flavoured),
Count Chocula (
Chocolate -flavoured), and
Franken Berry (
Strawberry -flavoured).
In late 2004, the company transitioned its entire breakfast cereal line to
Whole Grain due to scientific research showing the positive impact consuming whole grains has on individuals' health. Also, in 2004, General Mills was named one of the 100 Best Companies for Working Mothers by ''Working Mothers'' magazine.
Current members of the ,
William Esrey ,
Raymond Gilmartin ,
Judith Hope ,
Heidi Miller ,
Hilda Ochoa-Brillembourg ,
Steve Odland ,
Michael Rose ,
Robert Ryan ,
Stephen Sanger (chairman),
Michael Spence , and
Dorothy Terrell .
