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General Mills Buys Blue Buffalo Pet Products

  • CNN Money, Monday, February 26, 2018 7:45 AM

General Mills is buying Blue Buffalo Pet Products for $8 billion. The brand makes natural food for dogs and cats. General Mills hasn't sold pet food for about 50 years. Chief Executive Officer Jeff Harmening referred to the purchase as a "portfolio reshaping strategy" in the analyst call. "Reshaping our portfolio is something we intend to continue to do and we'll probably accelerate," he said.

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