GIS - General Mills' Balance Sheet is Back in Acquisition Shape and Investors Should be Happy
2023-08-04 07:08:00 ET
Food makers like General Mills (NYSE: GIS) are always shifting their portfolios to keep aligned with current consumer trends. So it isn't shocking to see the company buying and selling businesses. However, every so often a big deal takes shape that requires some time to absorb. That is how investors should view the $8 billion Blue Buffalo deal that got General Mills into the pet food space. Now, some five years later, General Mills might just be ready for another big deal.
In 2018, food maker General Mills bought its way into the pet food industry. However, it didn't just buy any pet food company. It bought the leading brand in the fast-growing "healthy" pet food niche. At the time, some market watchers thought management might have overspent on the deal .
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General Mills' Balance Sheet is Back in Acquisition Shape, and Investors Should be Happy