MINNEAPOLIS — General Mills, Inc. has completed its acquisition of Annie’s, Inc. after the company’s tender offer to purchase all issued and outstanding shares of common stock of Annie’s at a price of $46 per share was deemed successful. The total acquisition price as approximately $821 million.
The tender offer expired at midnight on Oct. 20. General Mills and Annie's subsequently completed the acquisition by merging a subsidiary of General Mills with and into Annie’s, with Annie’s surviving the merger as a wholly-owned subsidiary of General Mills. Annie’s shares ceased trading on the New York Stock Exchange at the close of the market on Oct. 20.
General Mills agreed to acquire Berkeley, Calif.-based Annie’s on Sept. 9. Annie’s now will join General Mills’ U.S. natural and organic products portfolio, which includes the Cascadian Farm, Muir Glen, Larabar and Food Should Taste Good brands. Net sales for these General Mills brands totaled approximately $330 million in fiscal 2014 ended May 25.Founded in 1989, Annie’s products are made without artificial flavors, synthetic colors and preservatives regularly used in many conventional packaged foods. Additionally, Annie’s sources ingredients so as to avoid synthetic growth hormones and bioengineered food ingredients. The company offers more than 145 products and is present in more than 35,000 retail locations in the United States and Canada.