General Mills' Cascadian Farm Debuts Mountain Peak Organic
General Mills Inc. GIS introduced Mountain Peak Organic under its sub-brand, Cascadian Farm. Available exclusively at Whole Foods stores, the new range of offering includes Mountain Peak Organic Blueberries and Mountain Peak Organic Harvest Berries.
Mountain Peak Organic Blueberries is an 8-ounce package that consists of four varieties of blueberries – Patriots, Toros, Bluecrop and Spartan. These blueberries are grown in the Home Farm in Washington.
The other variety, Mountain Peak Organic Harvest Berries, is available in 10-ounce pack containing a blend of strawberries, blueberries, raspberries and blackberries. These berries are grown in and supplied by organic farms from across the world.
Cascadian Farm has a reputation of using certified organic practices for growing berries, which helps to maintain the delicate balance in nature and strengthen the habitat of the honey bee population. However, Cascadian Farm is not the only organic brand in General Mills’ diverse portfolio.
Over the years, the company has built a portfolio of natural and organic brands, beginning with the Small Planet Foods acquisition in 2000, which was followed by the buyouts of Larabar, Mountain High, Liberte, Food Should Taste Good and Immaculate Baking. This way, the company plans to target the growing number of health conscious customers who prefer the convenience of packaged food without compromising on quality. Addition of Annie's last year puts the company’s overall natural and organic portfolio at over $600 million in net sales. With this acquisition, General Mills had become the third-largest natural and organic food manufacturer in the U.S.
The company’s natural and organic brands are expected to deliver double-digit sales growth in 2016. General Mills is expanding the distribution network of its natural and organic brands, and expects this business to reach $1 billion in sales by 2020.
General Mills has a Zacks Rank #4 (Sell).
Stocks to Consider
Investors interested in the food industry may consider stocks like ConAgra Foods, Inc. CAG, Treehouse Foods, Inc. THS and Pinnacle Foods Inc. PF, each carrying a Zacks Rank #2 (Buy).
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