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General Mills, Inc.

Packaged Foods & Consumer Packaged GoodsFounded 1866
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
13 historical events · Editorial analysis

General Mills Company Profile: Revenue, Business Model & Strategy

Research depth: 13 milestones · 9 FAQs

General Mills (NYSE: GIS) is a Minnesota packaged-food company behind Cheerios, Betty Crocker, Pillsbury and Blue Buffalo. It reported $18.42B in FY2026 net sales; Dana McNabb becomes CEO on Jan. 1, 2027.

How General Mills makes money: General Mills makes money by manufacturing branded foods and selling them wholesale to retailers, distributors and foodservice operators, then supporting those brands with advertising, promotions and new product…

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2026)$18.4B
Employees30,000
CEOJeffrey Harmening
Founded1866
IndustryConsumer Goods
By Swet ParvadiyaLast reviewed:
Data sources: annual reports, SEC filings, methodology
Industry:Packaged Foods & Consumer Packaged Goods

General Mills, Inc. key figures

General Mills, Inc. had revenue of $18.4B for fiscal year 2026, down 5.4% from FY2025. Net loss was $87.6M, a net margin of -0.5%.

Source: General Mills fiscal 2026 Form 10-K · Last reviewed October 2026

Revenue growth, FY2017 to FY2026
+1.9% a year
Compound annual rate, $15.6B to $18.4B
Peak revenue year
FY2023
$20.1B; the latest reported year is 8.3% below the peak
Revenue per employee
$614,153
FY2026 revenue divided by 30,000 employees; headcount may use another date
Documented transactions
5
Between 2001 and 2025
Founded
1866
160 years ago
Where was General Mills founded?
General Mills was founded in Minneapolis, Minnesota in 1866.
When did General Mills start?
General Mills was founded in 1866.
Who founded General Mills?
General Mills was founded by Cadwallader C. Washburn and John Crosby.
How old is General Mills?
General Mills is 160 years old as of 2026.
In-Depth Analysis
218 words · 2 min read

General Mills grew out of Cadwallader Washburn's 1866 Minneapolis flour mill and the Washburn-Crosby Company, and took its name in a 1928 merger of regional millers led by James Ford Bell. Over the next century it moved from commodity flour into branded foods: Betty Crocker (1921), Wheaties (1924), Bisquick (1931) and Cheerios (1941).

Building a portfolio

The 2001 purchase of Pillsbury from Diageo, valued at about $10.5 billion, roughly doubled the company and added Pillsbury dough, Old El Paso and Progresso. In 2018 General Mills paid about $8 billion for Blue Buffalo to create a pet segment, later adding Tyson's pet treats (2022) and Whitebridge Pet Brands (2025). It sold its North American yogurt businesses in 2025.

Where it stands in 2026

Net sales peaked at $20.09 billion in fiscal 2023 and fell to $18.42 billion in fiscal 2026 as shoppers traded down and divestitures took effect. A $1.5 billion pet goodwill impairment produced a GAAP net loss of $87.6 million. The company cut prices on many North America Retail items and targets $3 billion of cost savings by fiscal 2030.

Leadership change

On September 30, 2026, the board named COO Dana McNabb to succeed Jeff Harmening as CEO on January 1, 2027, with Harmening becoming executive chair. Her stated priority is returning General Mills to profitable growth.

Table of Contents

General Mills, Inc. Key Facts

CompanyGeneral Mills, Inc.
Annual revenue change-5.4% (FY2025–FY2026)
Financials$18.4B (FY2026, last reviewed October 2026)
Market Cap$17.9B
FY2026 net incomeloss $87.6M
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded1866
Founder(s)Cadwallader C. Washburn, John Crosby
CEOJeffrey Harmening
HeadquartersGolden Valley (Minneapolis), Minnesota
IndustryPackaged Foods & Consumer Packaged Goods
Employees30,000+

General Mills Company Profile: Revenue, Business Model & Strategy

"General Mills, Inc. (NYSE: GIS) is the company behind Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso and Blue Buffalo. It reported $18.42 billion in fiscal 2026 net sales, a GAAP net loss of $87.6 million, about 30,000 employees, and a market value near $18 billion at the end of September 2026."

Why General Mills, Inc. Wins

General Mills wins when trusted brands and retailer relationships turn into repeat purchases, and when its scale lets it cut costs faster than smaller rivals. Its breadth across cereal, baking, snacks, meals and pet food gives retailers category coverage that few competitors match.

General Mills, Inc. operates in a competitive market alongside Kellanova, Conagra Brands, Inc., The Campbell's Company, Mondelez International, Inc., The Kraft Heinz Company. Analysts frequently compare General Mills, Inc. and Kellanova due to their overlapping products, target markets, and strategic positioning. See full comparison →

General Mills (NYSE: GIS) is a Minnesota packaged-food company behind Cheerios, Betty Crocker, Pillsbury and Blue Buffalo. It reported $18.42B in FY2026 net sales; Dana McNabb becomes CEO on Jan. 1, 2027.

Revenue

$18.4B

Founded

1866

Employees

30K+

Market Cap

$17.9B

Author: CorpDigest Research DeskCompany Research

Key Facts

  • Founded: General Mills, Inc. was established in 1866 and is headquartered in Golden Valley (Minneapolis), Minnesota.
  • Revenue: General Mills, Inc. had $18.4B in annual revenue (FY2026).
  • Valuation: Market capitalization of approximately $17.9B.
  • Scale: General Mills, Inc. employs 30,000 people globally.
  • Business Model: General Mills makes money by manufacturing branded foods and selling them wholesale to retailers, distributors.
  • Competitive Edge: General Mills' edge is a portfolio of long-established brands with high household penetration, deep relationships.

How General Mills Makes Money

Capital Allocation & Scaling Mechanics

General Mills makes money by manufacturing branded foods and selling them wholesale to retailers, distributors and foodservice operators, then supporting those brands with advertising, promotions and new product launches. It reports four segments: North America Retail (cereal, snacks, baking, meals and refrigerated dough sold through U.S. and Canadian grocers, mass merchants, clubs and e-commerce), North America Pet (Blue Buffalo plus pet treats and the Whitebridge brands), North America Foodservice (schools, restaurants, convenience stores and bakeries) and International. It also earns equity income from joint ventures, chiefly Cereal Partners Worldwide with Nestle and Haagen-Dazs Japan. Management said e-commerce reached about 20% of human-food sales and 30% of pet-food sales in Q1 fiscal 2027.

Explore General Mills, Inc. In Depth

📅General Mills, Inc. History & Milestones💼How General Mills, Inc. Makes Money📊General Mills, Inc. Revenue & Financials⚔️General Mills, Inc. Competitive Strategy & SWOT👤General Mills, Inc. Founders & Origin Story🏆General Mills, Inc. CEO History & Leadership🤝General Mills, Inc. Acquisitions & Deals

What Is General Mills, Inc.'s Growth Strategy?

Under its 'Accelerate' strategy, General Mills is reshaping the portfolio toward pet food and away from slower categories. It bought Blue Buffalo in 2018 for about $8 billion, Tyson's pet treats business in 2022 and Whitebridge Pet Brands (Edgard & Cooper and Tiki Pets) in 2025, while selling its U.S. yogurt business to Lactalis and its Canadian yogurt business to Sodiaal in 2025. Near-term growth levers are price-value investments, more new products (about 5% of net sales in Q1 fiscal 2027 versus 3% two years earlier), protein-forward renovation, e-commerce and growth in International markets such as China and India.

How Much Revenue Does General Mills Generate?

Revenue peaked at $20.09 billion in fiscal 2023 after inflation-driven price increases, then slipped to $19.86 billion in fiscal 2024, $19.49 billion in fiscal 2025 and $18.42 billion in fiscal 2026 as volumes weakened and the company sold its North American yogurt businesses. Net earnings were $2.3 billion to $2.7 billion a year from fiscal 2020 to fiscal 2025 before the fiscal 2026 impairments produced a small GAAP loss. For fiscal 2027, General Mills guides organic net sales of down 1.5% to up 0.5%, adjusted operating profit down 8% to 13% in constant currency, and adjusted EPS of $3.00 to $3.20. It paid about $330 million in dividends in Q1 fiscal 2027. General Mills, Inc. is a monumental multinational manufacturer and marketer of branded consumer foods, sustaining a market valuation typically over $35 billion.

Financial MetricEstimated Value (2026)
Market Capitalization$17.9B
Employee Count30,000 +
Latest Annual Revenue$18.4B (FY2026)

Historical Revenue Chart

General Mills, Inc. Annual Revenue History

All figures in USD.

Fiscal YearRevenue FigureYoY Change
FY2017$15.6BN/A
FY2018$15.7B+0.8%
FY2019$16.9B+7.1%
FY2020$17.6B+4.5%
FY2021$18.1B+2.8%
FY2022$19B+4.8%
FY2023$20.1B+5.8%
FY2024$19.9B-1.2%
FY2025$19.5B-1.9%
FY2026$18.4B-5.4%

The source for each year is listed on the General Mills, Inc. financials page.

Core Strength

Brands such as Cheerios, Pillsbury, Betty Crocker, Nature Valley, Old El Paso and Blue Buffalo give General Mills broad shelf presence and negotiating weight with large retailers.

Key Weakness

Net sales fell from $20.09 billion in fiscal 2023 to $18.42 billion in fiscal 2026, and net leverage is about 4.1x versus a 3x target.

Deep Dive into General Mills, Inc. SWOT Analysis

Who Are General Mills, Inc.'s Main Competitors?

General Mills is an absolute behemoth in the highly consolidated American food manufacturing oligopoly, fiercely competing against Kellogg's, Conagra Brands, and Kraft Heinz. Its absolute crown jewel is its cereal division (Cheerios, Cinnamon Toast Crunch), which generates massive, highly reliable cash flows. However, as American consumers increasingly abandon sugary breakfast cereals for protein-heavy alternatives, General Mills aggressively utilized its massive cash reserves to execute a multi-billion dollar pivot into the premium pet food market (acquiring Blue Buffalo in 2018), directly battling Mars and Purina for dominance in the high-margin pet humanization trend.

Top CompetitorsHead-to-Head Analysis
KellanovaCompare vs Kellanova→
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The Kraft Heinz CompanyCompare vs The Kraft Heinz Company→

What Is General Mills, Inc.'s Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1866 - Washburn builds his first Minneapolis mill

Anthony Falls on the Mississippi River, the earliest root of General Mills.

1877 - Washburn-Crosby Company formed

Washburn partners with John Crosby to form the Washburn-Crosby Company.

1878 - Washburn 'A' Mill explosion

A flour-dust explosion destroys A Mill and neighboring mills, killing 18 workers; the mill is rebuilt with roller-milling technology.

1880 - Gold Medal Flour

Washburn-Crosby flour wins a gold medal at the Millers' International Exhibition in Cincinnati, inspiring the Gold Medal Flour brand.

1921 - Betty Crocker created

The company invents the Betty Crocker name to answer consumer baking questions from a flour promotion.

1924 - Wheaties launched

Washburn-Crosby introduces a whole-wheat flake cereal, renamed Wheaties, its first ready-to-eat cereal.

1928 - General Mills incorporated

James Ford Bell merges Washburn-Crosby with other regional milling companies to form General Mills, Inc.

1941 - Cheerios launched

CheeriOats debuts and is renamed Cheerios in 1945, becoming one of the best-selling U.S.

2001 - Pillsbury acquired

General Mills buys Pillsbury from Diageo, adding Pillsbury dough, Old El Paso, Progresso and Haagen-Dazs and roughly doubling in size.

2018 - Blue Buffalo acquired

General Mills buys Blue Buffalo for about $8 billion, creating its pet segment.

2025 - Yogurt exit and Whitebridge deal

yogurt business to Lactalis and Canadian yogurt to Sodiaal, and acquires Whitebridge Pet Brands (Edgard & Cooper, Tiki Pets).

2026 - Impairment and CEO succession

Fiscal 2026 ends with a $1.5 billion pet goodwill impairment and a GAAP net loss; on September 30 the board names COO Dana McNabb CEO effective January 1, 2027.

Risks & Weaknesses

Analytical Assessment

Primary Risk Factor

The biggest risk is continued volume erosion as consumers trade down to private label, which could force further price cuts and squeeze margins at a time when leverage is about 4.1x net debt to EBITDA and input costs are rising.

Risk assessment based on public filings, SWOT analysis, and verified industry data. Not financial advice.

How Did General Mills Start and Grow?

Established

1866

Fiscal Revenue (FY2026)

$18.4B

Workforce

30K+

HQ Location

Golden Valley (Minneapolis), Minnesota

Innovation & R&D Snapshot

()

General Mills increased new-product volume by about 50% over two years, with protein-forward launches across cereal, snacks and pet food.

Explore General Mills In Depth

Detailed research across every dimension of General Mills — history, financials, leadership, and strategy.

Company History

General Mills is one of the largest U.S. packaged-food makers, with brands spread across the cereal, baking, snack, frozen and refrigerated aisles plus pet food.

Full General Mills history →

Revenue & Financials

General Mills had $18.4B in revenue for fiscal year 2026. Data covers 10 fiscal years. Market capitalization stands at approximately $18B.

General Mills financials →

Founders

General Mills was founded by Cadwallader C. Washburn, John Crosby in 1866. Explore each founder's background, motivations, and their role in building the company.

General Mills founders →

CEO & Leadership

General Mills is currently led by Jeffrey Harmening. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

General Mills CEO history →

Business Model

General Mills makes money by manufacturing branded foods and selling them wholesale to retailers, distributors and foodservice operators, then supporting those brands with advertising, promotions and new product…

How General Mills makes money →

Acquisitions

General Mills has completed 5 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

General Mills acquisitions →

Competitive Strategy

Under its 'Accelerate' strategy, General Mills is reshaping the portfolio toward pet food and away from slower categories.

General Mills strategy →

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CorpDigest Research Desk

 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About General Mills

How does General Mills make money?

General Mills makes money by manufacturing branded foods and pet food and selling them to grocers, mass merchants, club stores, e-commerce platforms and foodservice operators. Its four segments are North America Retail, North America Pet, North America Foodservice and International, and it also earns income from joint ventures such as Cereal Partners Worldwide with Nestle. Fiscal 2026 net sales were $18.42 billion.

Who is the CEO of General Mills?

Jeff Harmening has been CEO since June 2017 and chairman since 2018. On September 30, 2026, the board named Chief Operating Officer Dana McNabb as his successor effective January 1, 2027, when Harmening becomes executive chair. McNabb, who joined General Mills in Canada in 1999, will be the first woman to lead the company.

Who owns General Mills?

General Mills is a publicly traded company listed on the NYSE as GIS and is owned by its shareholders, mostly institutional investors such as index funds and asset managers. It has no controlling shareholder. Its market capitalization was about $17.9 billion at the end of September 2026.

Who are General Mills' main competitors?

Key competitors include Kellanova and Post Holdings in cereal; Mondelez, PepsiCo and Kellanova in snacks; Kraft Heinz, Conagra Brands and Campbell's in meals and baking; Nestle Purina, Mars Petcare and J.M. Smucker in pet food; and private-label store brands.

What was General Mills' revenue in fiscal 2026?

General Mills reported fiscal 2026 net sales of $18.42 billion, down 5% from $19.49 billion in fiscal 2025, with a GAAP net loss attributable to General Mills of $87.6 million due to non-cash impairment charges. In Q1 fiscal 2027 net sales were $4.39 billion, down 3%.

What brands does General Mills own?

Major brands include Cheerios, Lucky Charms, Cinnamon Toast Crunch, Wheaties, Nature Valley, Pillsbury, Betty Crocker, Gold Medal, Old El Paso, Totino's, Progresso, Annie's, Fiber One, Blue Buffalo, Edgard & Cooper and Tiki Pets. Haagen-Dazs is owned outside the U.S. and Canada. It sold its U.S. Yoplait business to Lactalis in 2025.

Where is General Mills headquartered?

General Mills is headquartered in Golden Valley, Minnesota, a suburb of Minneapolis. Its shares trade on the New York Stock Exchange under the ticker GIS.

Why did General Mills report a loss in fiscal 2026?

The fiscal 2026 GAAP net loss of $87.6 million came mainly from non-cash charges, including a $1.5 billion goodwill impairment on North America Pet and divestiture-related items, rather than from negative operating cash generation.

Analysis: How General Mills, Inc. Makes Money

Deep dive into the General Mills, Inc. business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

General Mills, Inc. vs KellanovaGeneral Mills, Inc. vs Conagra Brands, Inc.General Mills, Inc. vs The Kraft Heinz Company

Compare

Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

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This corporate intelligence report on General Mills, Inc. compiles data from verified filings. Explore more detailed brand histories and company histories in the global Packaged Foods & Consumer Packaged Goods marketplace.

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Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Explore Related Pages for General Mills, Inc.

History & FailuresTimeline, setbacks, and key milestonesBusiness ModelHow they make money and market productsFinancialsRevenue history and fiscal metricsCompetitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.