General Mills Eyes Global Expansion Of Cereals Business

General Mills CEO Ken Powell told the audience at the 2011 Consumer Analyst Group of New York (CAGNY) conference that his company expects to grow its global cereal sales by $1 billion to reach $4.8 billion in 2015. The company operates its cereal businesses in the U.S. and Canada, a market valued at almost $11 billion and growing at a 2 percent CAGR for the last 20 years. General Mills also operates in 130 countries via Cereal Partners Worldwide, a joint venture with Nestlé. Powell sees growth opportunities in the global and foodservice markets, and says that the emerging markets with their growing ranks of middle-class consumers represent future growth for ready-to-eat cereals.