Annie’s Inc (NYSE:BNNY) sold out to General Mills (NYSE:GIS)
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General Mills (NYSE:GIS) Incorporation is one of the largest food company in the world. The latest addition to company’s portfolio is the Annie’s Inc (NYSE:BNNY), Another leading name in the field of natural and organic food producers. The price at which General Mills (NYSE:GIS) bought their shares is estimated to be $46/share. This price means that the total price to be paid is projected at $820 million; a huge investment all in all. When Annie (NYSE:BNNY) becomes part of this renowned company, it will give the latter a chance to grow and move forward as well as maximize their value. There has been an increase of 51% in Annie’s (NYSE:BNNY) shares, thus making each share cost $30.47. This raise was recorded on September, 5th of this year. Despite the company’s potential growth it has been decided that the main headquarters will remain in California.
This change is being readily welcomed at the highest levels at Annie’s Inc (NYSE:BNNY). According to the CEO of the company, forming a joint venture with General Mills (NYSE:GIS) will open new doors for them. Annie (NYSE:BNNY) that already excels in the growth of natural and organic food will be able to capitalize its market further. A more expansive growth range will be provided to Annie (NYSE:BNNY) because many customers are now able to understand the advantages of natural and organic produces. Costumers nowadays are really careful about the type of food they eat, provided they are full of good quality meaning organic and natural foods. This will prove profitable for the company and reflect in its share price. Annie (NYSE:BNNY) can only achieve this by being part of a larger cooperation which is where General Mills (NYSE:GIS) comes in.
Annie (NYSE:BNNY) has self-assuredly decided to not let go of their healthy and differentiated food. The company though small, has decided to stay true to their roots and values. They will stay loyal to producing good appetizing and delicious foodstuff no matter what, food that is not only affordable but also gives its consumers the best of all types of nutritional values. The company has decided to move forward industrially but at the same time it maintains its original strategy every step of the way.
The chairperson of its Board of Directors, Molly Ashby, has thanked the entire team of Annie (NYSE:BNNY) for realizing this purpose. Molly has gone out of her way to thank all her employees for maintaining the quality of standards throughout. The company must be given credit for upholding their customs for more than 25 years of its origination. Annie (NYSE:BNNY) keeps in mind the profit of its stakeholders because it knows their value and worth. The company thinks that now after establishing their name in the market, it is high time to move forward technologically and operationally. They want to improve their industrial worth by enhancing the distribution of organic products all throughout the country.
This deal between Annie (NYSE:BNNY) and General Mills (NYSE:GIS) is expected to be completed in the next 10 working days. General Mills (NYSE:GIS) has decided and agreed to buy the majority of Annie’s (NYSE:BNNY) shares with the prediction being that the transactions will be completed by the end of the year 2014.