General Mills Acquires Fera Pets, Inc., Introduces Growth Fund; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
General Mills, Inc. (NYSE:GIS) has acquired Fera Pets, Inc., a pet supplement company, marking its first entry into the pet supplement category and the first acquisition by its newly launched growth equity fund. Fera Pets will join General Mills' new growth equity fund, which is designed to own, scale, and incubate strategically aligned businesses for future integration into the company's core portfolio. This move is part of General Mills' disruptive innovation ecosystem, Gold Medal Ventures, which also includes its internal venture studio, G-Works, and its corporate venture capital arm, 301 INC.
November 09, 2023 | 1:25 pm
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General Mills' acquisition of Fera Pets could potentially diversify its product portfolio and open up new revenue streams in the growing pet supplement market.
The acquisition of Fera Pets allows General Mills to enter the pet supplement market, which is a growing sector. This could potentially diversify its product portfolio and open up new revenue streams, which could positively impact its stock price in the short term.
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