Consumer Products Sell Off After Amazon/Whole Foods Tie-Up; Shares Still Not Overly Attractive
Consumer products firms (including household and personal-care and packaged-food firms) sold off early on June 16 (with most ticking down at a low- to mid-single-digit rate) in response to news that Amazon intends to acquire Whole Foods Market in a $14 billion all-cash transaction. While we understand the strategic rationale for the deal for Amazon--giving it an opportunity to gain a larger brick-and-mortar presence, as well as access to higher-quality fresh food, which helps its ambitions to ex...General Mills manufactures and markets branded consumer foods. The company's segments are: North America Retail, which provides cereals, refrigerated yogurt, soup, meal kits, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit and savory snacks, and organic products, among others; Convenience Stores and Foodservice, which provides snacks, yogurt, frozen meals and frozen dough products, and baking mixes, among others; Europe and Australia, which includes retail and foodservice businesses in the Europe and Australia region; Asia and Latin America, which consists of retail and foodservice businesses in the Asia and South America regions; and Pets, which includes pet food products.
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