• General Mills acquires Epic Provisions
General Mills continues to expand it snack food offering, this time with the acquisition of Epic Provisions. Terms of this deal were not disclosed by the Minneapolis-based food giant.
Austin-based Epic Provisions makes meat snacks that are sold in Whole Foods, Sprouts, Farmer’s Markets and Natural Grocers. This specialty business will operate under the Annie’s Inc. division, which General Mills acquired in 2014.
“The acquisition of Epic positions General Mills for exciting growth with a highly authentic brand in an entirely new natural snacking category,” said John Foraker, president of Annie’s. “A purpose-driven brand like Epic perfectly aligns with the experience and capabilities set that Annie’s brings to the table. Epic has tremendous potential for growth in the natural snacking category. We’re committed to maintaining the great-tasting Epic snacks people love while further building this important brand to drive positive impact we can be proud of well into the future.”
Taylor Collins and Katie Forrest co-founded Epic Provisions in 2013 and will remain with the company following the acquisition, according to General Mills.
• Monsanto to slash 1,000 jobs worldwide in cost savings plan
Monsanto, a major supplier to Wal-Mart Stores, said it will slash another 1,000 jobs in the coming year bringing the company’s total planned job cuts to 3,600 since the reorganization efforts were first announced in June 2015.
The company said this latest round of global job cuts is an effort to help the company reel in $500 million of annual savings by the end of fiscal year 2018.
“Employees whose jobs will be eliminated will receive a severance package based on the severance policy in their home country. They will all be offered outplacement services, which include classes on resume writing, interviewing and other services to help them secure a future employment. We also remain committed to continuing our long-term efforts to be a strong employer and contributor to the regions and communities we serve around the world,” said Christi Dixon, spokesperson for Monsanto.
Monsanto announced plans in June to reduce operating costs within the range of $300 million to $500 million. The company announced in October the initial plans, including shuttering three research and development centers. This step covered savings of $275 to $300 million and included the planned slashing of 2,600 jobs.