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MarketScreener Homepage  >  Equities  >  Nyse  >  General Mills, Inc.    GIS

GENERAL MILLS, INC.

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General Mills, Inc. : General Mills expands open innovation program with launch of G-WIN Digital

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12/05/2011 | 01:50pm EST
General Mills expands open innovation program with launch of G-WIN Digital
G-WIN Digital discovers, pilots and shares emerging digital marketing technologies with General Mills' portfolio of iconic brands

December 05, 2011

MINNEAPOLIS, Minn. - Today General Mills is expanding its successful General Mills Worldwide Innovation Network (G-WIN) open innovation program to include emerging digital marketing technologies with the launch of .  Through G-WIN Digitalcompany seeks to connect with partners who have digital marketing technologies focusing on video, social, mobile and gaming.

"From the Betty Crocker radio programs in the 1920s, to sponsoring the first televised commercial sports broadcast in 1939, to the Betty Crocker iPad app today, General Mills has a rich history of using emerging technology to develop relationships with consumers," said Mark Addicks, General Mills senior vice president and chief marketing officer.  "Today, digital marketing innovation is essential for us to connect and engage with consumers when and where they seek inspiration."

G-WIN Digital leverages the benefits of open innovation to discover, pilot and share emerging digital marketing technologies with General Mills' portfolio of iconic brands.

An example of this approach is the Shazam-enabled Pillsbury Crescents TV commercial, which debuts nationally today. When consumers use Shazam to tag the Pillsbury Crescents commercial, they receive an interactive tag result on their mobile device which includes Pillsbury holiday recipe ideas and how-to videos, as well as links to . 

General Mills is the first packaged foods company to leverage Shazam in a television campaign to deliver food content directly to people's mobile devices.

"Open innovation has proven to be a successful business strategy for General Mills," said Addicks. "We believe that projects discovered through G-WIN Digital will help us find effective and efficient ways to connect General Mills brands with consumers."

Prospective partners with emerging digital technologies can contact General Mills online by visiting . Submissions are evaluated according to several criteria, including application for General Mills brands, uniqueness and proof of concept. Media plan proposals, original content ideas and media kits will not be accepted.

About G-WIN
General Mills officially launched its open innovation programGeneral Mills Worldwide Innovation Network (G-WIN) in 2007 to enhance and accelerate its innovation efforts. G-WIN has historically focused on food technology, products, packaging, ingredients and processinghas connected with thousands of world-class innovators around the globe since its launch. More than 40 new General Mills products have incorporated a significant portion of open innovation, including , , , .

About General Mills
General Mills is one of the world's leading food companies, operating in more than 100 countries.  Its consumer brands include Cheerios, Häagen-Dazs, Nature Valley, Yoplait, Betty Crocker, Pillsbury, Green Giant, Progresso and Old El Paso.  Headquartered in Minneapolis, Minnesota, USA, General Mills had fiscal 2011 net sales of US$14.9 billion.

For more information, contact:

Maerenn Jepsen
General Mills
763-764-6364

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Financials (USD)
Sales 2020 17 209 M
EBIT 2020 2 941 M
Net income 2020 2 073 M
Debt 2020 12 906 M
Yield 2020 3,73%
P/E ratio 2020 15,9x
P/E ratio 2021 15,4x
EV / Sales2020 2,64x
EV / Sales2021 2,59x
Capitalization 32 577 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 54,39  $
Last Close Price 53,31  $
Spread / Highest target 21,9%
Spread / Average Target 2,02%
Spread / Lowest Target -25,0%
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Jeffrey L. Harmening Chairman & Chief Executive Officer
Donal Leo Mulligan Chief Financial Officer
Jodi J. Benson Chief Innovation, Technology & Quality Officer
Stephen A. Odland Independent Director
R. Kerry Clark Lead Independent Director
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