Processed food and yogurt brands driving down profits for the food corporation as it expands its presence in the plant-based sector.

According the media outlet Rutgers, General Mills’ net sales dropped by 5.2 percent in its third quarter earnings report—down by $4 million since this time last year. Food industry media outlet Food Dive writer Christopher Doering attributes most of these losses to the company’s yogurt holdings—which account for 13 percent of the company’s sales—and advises General Mills to continue investing in brands that are more salient with current consumer demands. “For the food manufacturer to win back customers, it should keep overhauling its roster of products,” Doering said, “working to show the public that even though it’s a $35 billion business it can also be healthy and compete with the trendy startups.” To date, General Mills has invested in several plant-based companies including vegan cheesemaker Kite Hill, kale chip company Rhythm Superfoods, probiotics brand Farmhouse Culture, and plant-based protein bar-maker D’s Naturals.

Source: General Mills’ Sales Dip by $4 Million, Dairy to Blame

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