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General Mills to Invest $54 Million in Innovation Plant
General Mills is set to invest $54 million in a new innovation plant near its Minnesota headquarters. This move comes as the company aims to accelerate the development of new products and boost sales.
Key Points:
- The new 35,000-square-foot wing at the James Ford Bell Technical Center will increase pilot plant space by more than 20%.
- Food and beverage makers are focusing more on innovation to meet evolving consumer demands.
- General Mills plans to develop products that cater to consumer preferences for spicier flavors and high protein.
Insight:
The expansion at the James Ford Bell Technical Center will provide General Mills with flexible spaces to accelerate research and innovation. This move is crucial for the company to stay competitive amidst changing consumer trends and market conditions.
Lanette Shaffer Werner, Chief Innovation, Technology, and Quality Officer at General Mills, stated, “This expansion is a critical step in ensuring General Mills remains at the forefront of innovation.”
General Mills is committed to launching new products across its major categories, focusing on trends like protein in cereal and bold flavors in snacks.
The investment in the innovation facility follows General Mills’ announcement of a global transformation initiative that may lead to job cuts. The company is adjusting its growth strategies to increase productivity.