General Mills Reports Progress on Accelerate Strategy at CAGNY 2025 Conference

Since the formal launch of the Accelerate strategy, General Mills has made significant strides in reshaping its operations and enhancing its brand portfolio. The company has reshaped nearly 30% of its product offerings, invested heavily in its brands, and developed a competitive digital infrastructure, all while achieving financial results that consistently meet or exceed long-term goals.

CEO Jeff Harmening emphasized, “We continue to execute on the key pillars of our Accelerate strategy and deploy our Remarkable Experiences Framework to deliver on consumers’ evolving needs.” He expressed confidence in General Mills' ability to navigate the current market landscape, which presents both opportunities and challenges. Harmening stated that the company's strong brand portfolio, differentiated capabilities, and world-class talent position General Mills favorably for sustainable growth and attractive shareholder returns.

General Mills has identified four strategic pillars to drive sustainable growth:

The company continues to invest in its iconic brands, which include nine brands each generating over $1 billion in retail sales. Notably, media investments have surged nearly 40% from fiscal 2019 to fiscal 2024, with expectations for further increases in fiscal 2025.

Innovation remains a cornerstone of General Mills’ strategy, as the company adapts to evolving consumer preferences. The firm has ramped up its innovation contributions and boasts a strong pipeline of new product launches poised to significantly drive growth in fiscal 2026.

General Mills has made substantial investments in digital infrastructure, doubling its investment in Digital, Data, and Technology since 2019. This transformation aims to bolster enterprise capabilities and enhance growth and profitability. The investments have unlocked opportunities in data-driven marketing, strategic revenue management, and supply chain digitalization.

The company is committed to its Global Impact initiatives, focusing on sustainability and resilience for the planet and its people. General Mills has pledged to advance regenerative agricultural practices on one million acres by 2030, with 600,000 acres currently engaged in its programs.

General Mills has successfully balanced net sales growth, margin expansion, and cash conversion to create shareholder value. The company has reported strong performance in margin growth and free cash flow conversion, enabling it to return over $11 billion to shareholders through dividends and share repurchases since fiscal 2019.

The presentation at CAGNY 2025 will be followed by a webcast featuring both Harmening and Bruce at 7 a.m. CT. A replay of the presentation and supporting materials will be available on General Mills' Investor Relations website.

General Mills is a global leader in food production, driven by its Accelerate strategy. The company's portfolio includes renowned brands such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, and many more. In fiscal 2024, General Mills reported net sales of $20 billion, with an additional $1 billion from non-consolidated joint ventures. For more information, visit www.generalmills.com.

As General Mills continues to execute its Accelerate strategy, the company remains well-positioned to meet the challenges of a dynamic market landscape while delivering sustainable growth and robust returns to its shareholders.