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General Mills to Acquire Annie’s

Annie'sGeneral Mills says it will acquire organic and natural food company Annie’s for about $820 million.

Annie’s will join General Mills’ US natural and organic products portfolio, which includes the Cascadian Farm, Muir Glen, LÄRABAR and Food Should Taste Good brands.

Annie’s posted net sales of $204 million in its latest fiscal year, which ended in March. Net sales for General Mills’ natural and organic brands totaled about $330 million in its latest fiscal year, which ended in May.

The transaction is expected to close later in calendar 2014.

Earlier this year Annie’s and some 200 other food companies, organic farming and environmental groups have signed a letter to President Obama urging mandatory labeling laws for genetically engineered foods.

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