Net sales for General Mills’ pet segment declined 4% in fiscal year 2024 compared with FY2023. In General Mills’ annual report, company executives stated that this decline in pet food sales value was due to a decrease in contributions from volume growth, partially offset by favorable net price realization and mix.
- General Mills pet segment net sales FY24 – US$2,375.8 million
- General Mills pet segment net sales FY23 – US$2,473.3 million
However, General Mills pet food division’s operating profit increased 9% to US$486 million in FY24, compared to US$446 million in FY23, primarily driven by favorable net price realization and mix and lower input costs, partially offset by a decrease in contributions from volume growth and an increase in selling, general and administrative expenses.
“Our Pet operating segment includes pet food products sold primarily in the United States and Canada in national pet superstore chains, e-commerce retailers, grocery stores, regional pet store chains, mass merchandisers, and veterinary clinics and hospitals,” General Mills executives wrote in a report. “Our product categories include dog and cat food (dry foods, wet foods, and treats) made with whole meats, fruits, and vegetables and other high-quality natural ingredients. Our tailored pet product offerings address specific dietary, lifestyle, and life-stage needs and span different product types, diet types, breed sizes for dogs, life stages, flavors, product functions, and textures and cuts for wet foods.”
General Mills pet food news in 2024
General Mills is a North American manufacturer and marketer of consumer foods and pet food; entering the pet food market in 2018 with the acquisition of Blue Buffalo. Blue Buffalo is manufactured in the U.S. through a hybrid network of owned and contracted facilities. The company made several acquisitions in 2024.
General Mills acquires Whitebridge Pet Brands for $1.45 billion
November 14, 2024 – Premium cat food and treats acquisition is the fifth for General Mills in the pet category.
General Mills’ pet food segment down 8% in Q4 FY24
June 28, 2024 – Pet segment sales were $602 million in the fourth quarter, down 8% year-over-year, due to lower volume and unfavorable pricing.
General Mills acquires Edgard & Cooper
May 2, 2024 – Edgard & Cooper is one of Europe’s leading independent premium pet food brands with omnichannel distribution across 13 markets.
Blue Buffalo to build warehouse in Kansas, create 103 jobs
February 26, 2024 – General Mills’ pet division had an annual revenue of US$2,300,000,000 in 2022.
Blue Buffalo volume sales resumed growth in early 2024
February 23, 2024 – This growth in Blue Buffalo’s Life Protection recipe may be part of a larger wave of growth for General Mills’ pet foods, now that some supply chain challenges have receded.
Fera Pets acquired by General Mills
January 15, 2024 – The collaboration signifies the increasing demand for trustworthy and healthful pet products.
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