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Tuesday, February 18, 2014

General Mills shopping for food deals in emerging markets, (NYSE: GIS)

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 North Africa.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.

General Mills, Inc. (General Mills) is a manufacturer and marketer of branded consumer foods sold through retail stores. Shares of GIS fell by 0.44% or $-0.22/share to $49.67. In the past year, the shares have traded as low as $44.50 and as high as $53.07. On average, 3274810 shares of GIS exchange hands on a given day and today's volume is recorded at 1092851.