General Mills has completed 3 recorded acquisitions and 0 divestitures or spin-offs, spanning 2001 to 2018.
| Date | Type | Assets | Counterparty | Value |
|---|---|---|---|---|
| Apr 2018 | Acquisition | Blue Buffalo | — | $8bn |
| Oct 2014 | Acquisition | Annie's | — | $820m |
| Oct 2001 | Acquisition | Pillsbury, Old El Paso and Häagen-Dazs (North America) | Diageo | $10.5bn |
General Mills acquired Blue Buffalo for about $8 billion, its largest acquisition. Pet food had been growing while packaged human food stagnated, and Blue Buffalo sold on named whole ingredients rather than meat meals, largely through pet specialty retailers.
General Mills acquired Annie's for about $820 million, buying an organic food company whose rabbit logo and pasta shapes had been built in deliberate opposition to the packaged food industry that bought it.
General Mills bought Pillsbury from Diageo, roughly doubling its size. The Federal Trade Commission required the divestiture of Pillsbury's dessert and specialty products business to International Multifoods before clearing the deal.
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