Blue Buffalo Is Bouncing Back at General Mills. What Does It Mean for the Stock?
General Mills (NYSE: GIS) is a large and iconic consumer staples company. But it isn't exactly correct to view it as a food maker, because what it really owns is a collection of brands that it manages. Brand-level results vary, but the end goal is to keep growing each brand's business over time.
General Mills' pet food division has been experiencing some pain of late, but this important division seems to be on the mend. Here's what's going on and why it is so important for General Mills.
General Mills bought Blue Buffalo in 2018. At the time, some industry watchers were concerned that the consumer staples giant overpaid for the company, which was the leading provider of healthy pet food. Management, however, believed that it could speed up Blue Buffalo's effort to move from the specialty store space into mass market outlets.
Source Fool.com
