General Mills, Inc. GIS entered into a partnership with J&J Snack Foods Corp. JJSF to introduce Pillsbury Mini Pies. These new frozen dessert squares will be available in three varieties: Apple Cinnamon, S’mores and Chocolate Lava.
The product launch was timed for the holiday season, when more people are in a mood to indulge their sweet tooth. Each box contains 4 frozen mini pies with a pack of flavored icing, prepared in 15 minutes or less.
The processed food company has an extensive portfolio of growth products and brands, especially its healthy and convenience packages. The company plans to target the growing number of diet-conscious customers who prefer the convenience of packaged food without compromising on health.
In order to keep up with evolving consumer food preferences, in fiscal 2016, General Mills plans to invest in consumer-focused innovation and marketing, and accelerate its natural and organic product portfolio to boost sales. Management is trying to turn around its struggling U.S. retail business through increased investments in cereal to improve performance, boost the better-for-you snacking segment – both the yogurt and snacks businesses – and drive double-digit growth at the natural and organic portfolio.
Both General Mills and J&J Snack Foods carry a Zacks Rank #3 (Hold).
Stocks to Consider
A couple of better-ranked consumer staples stocks include Omega Protein Corp. OME and B&G Foods Inc. BGS. Both companies sport a Zacks Rank #1 (Strong Buy).
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