Skip to main content
Updated:
Original:

Report: General Mills puts Green Giant up for sale

Author:

Minnesota-based General Mills is putting its famous Green Giant frozen and canned vegetable brand up for sale, Reuters is reporting.

The food giant, which employs 42,000 worldwide and has its headquarters in Golden Valley, has been working with investment bank Rothschild on a potential sale, according to the news agency, which could take place this summer.

The Star Tribune reported earlier this week how the company has been quietly cutting its workforce, with 1,500 employees leaving the company in the past 30 months – around half of which were in the Twin Cities.

These cuts have come as the company is "striving to reinvent itself" in the face of changing consumer tastes, that is seeing more people turn their back on packaged foods that have become General Mills staples, the paper said.

And it appears that a victim of changes to the company could be the Jolly Green Giant, even though the business generates around $700 million in revenue.

One of the challenges facing the company is the struggles seen in its cereal division, which last month led to the announcement that its famous Cheerios brand would be going gluten-free in response to changing demand.

The Wall Street Journal reported last year that the frozen meal industry has also been taking a hit, with sales falling 3 percent between 2009 and 2013 as shoppers move toward fresher foods.

Reuters says that this is seeing larger companies start to sell underperforming brands and buy up healthier companies to add to their portfolios.

Both General Mills and Rothschild would not comment on the story.

Next Up

Timothy William Tuit

2 people plead guilty in fatal Dakota County home invasion

Two others charged in the incident will go to trial next year.

south lake minnetonka police department

25-year-old arrested after multi-city police chase in western suburbs

Police were called for a welfare check but learned it was a domestic violence incident.

Screen Shot 2021-12-02 at 8.34.54 AM

After getting COVID, Harrison Smith still not considering vaccine

The Vikings safety says he doesn't plan on getting vaccinated.

covid

First omicron variant COVID case detected in MN

The individual is an adult male who lives in Hennepin County and had recently traveled.

wright county Sheriff Sean Deringer

Minnesota sheriff bashes MPD, 'disgusted' by officers' actions

The sheriff said he will no longer defend the Minneapolis Police Department.

Screen Shot 2021-12-02 at 7.59.52 AM

More than 2 years after announcing, Duck Donuts finally opens at MOA

The grand opening of the new location took place Wednesday.

unsplash - school girl students

St. Paul is closing 6 schools amid declining enrollment

The board revised the plan after the school communities voiced concerns.

Karl-Anthony Towns

X-rays negative after Karl-Anthony Towns takes scary fall

Towns crashed hard to the ground late in the game Wednesday night.

Minneapolis police

2 more homicides push Minneapolis closer to record set in 1995

The deadly shootings happened on the city's North Side Wednesday night.

Karl-Anthony Towns

KAT sets a franchise record, leaves early in loss to Wizards

Towns fell on his back in the final minutes of a loss in Washington.

Flickr - police lights squad siren - Edward Kimmel

Man shot by police in Forest Lake dies from injuries

It was one of two police shootings in the Twin Cities on the same day, both of which proved fatal.

Related

General Mills resurrects Green Giant, Cheerios Kid

General Mills is bringing back two iconic advertising mascots to appear in ads. The Jolly Green Giant debuted in a TV commercial Monday to encourage kids to eat more vegetables. The cartoon-like Cheerios Kid from the 50s and 60s is making an appearance in online ads.