The Green Giant division of General Mills Inc. (GIS) recently introduced two new snacks called Green Giant Roasted Veggie Tortilla Chips Zesty Cheddar Flavor and Green Giant Multigrain Sweet Potato Chips Sea Salt Flavor. Both the products are expected to be offered at a retail price of $2.99.
So far, Green Giant specialized in products for the frozen section. The introduction of these two products marks its entry into the snacks aisle.
With changing consumer preferences, there is a huge demand for new snacking products that tickle the taste buds and at the same time are healthy. The company is continuously innovating products that have improved nutritional value.
Green Giant Roasted Veggie Tortilla Chips with Zesty Cheddar Flavor contain several healthy ingredients like real vegetables and 17 grams of whole grain per serving. On the other hand, Green Giant Multigrain Sweet Potato Chips with Sea Salt Flavor contain 14 grams whole grain per serving. As such sweet potatoes contain 40% less fat than regular potato chips.
Overall, we are encouraged by General Mill's strong market share position in some leading food categories, its growing international presence, strategic acquisitions and focus on innovation and brand support. These growth initiatives combined with the cost saving efforts bode well for the company's long-term growth.
General Mills carries a Zacks Rank #2 (Buy).
Other companies in the consumer staples sector that warrant investors' attention include Flowers Foods, Inc. (FLO), J&J Snack Foods Corp. (JJSF), and ConAgra Foods, Inc. (CAG). While Flowers Foods and J&J carry a Zacks Rank #1 (Strong Buy), ConAgra carries a Zacks Rank #2 (Buy).
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