General Mills to Acquire Blue Buffalo: Will It Return to Growth?

Food manufacturers in the United States have been eyeing bolt-on acquisitions to reshape their portfolios. Large food corporations, including Kellogg (K), Hershey (HSY), McCormick (MKC), Campbell Soup (CPB), and Conagra Brands (CAG), went the M&A (mergers and acquisitions) route last year to expand into faster-growing avenues within the food segment and accelerate their top-line growth rates. Following a similar growth path, General Mills (GIS) has announced the acquisition of Blue Buffalo Pet Products, a market leader in the wholesome natural pet food category in the United States.