BOCA RATON, Fla. Feb 18 U.S. packaged foods
group General Mills is looking to expand its business in
faster-growing emerging markets, it said on Tuesday, as growth
in its home market remains weak.
"We continue to look at tuck-in opportunities around the
world," Chief Executive Ken Powell said on Tuesday at a
conference in Boca Raton, Florida.
The company behind Yoplait yogurt, Cheerios cereal and
Haagen-Dazs ice cream said it was "actively investigating"
expansion opportunities in India, Indonesia, the Middle East and
General Mills could easily digest within a year an
acquisition worth up to roughly $1 billion, Chief Financial
Officer Don Mulligan told reporters. The company is interested
in those markets, in areas such as simple meals, ice cream,
yoghurt or snacks.
The company also said it was working to expand Yoplait in
China with a new factory it started building in December. It
said it was working with Sodiaal, the French dairy cooperative
which co-owns Yoplait, to secure supply for the market.