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General Mills Inc. is set to engage with federal regulators regarding potential restrictions on food dyes used in its cereals, following calls from Robert F. Kennedy Jr., the nominee for the Department of Health and Human Services, to eliminate these additives. The company emphasized its commitment to collaborating with policymakers as the situation evolves, indicating readiness to discuss any proposed changes.
Jim Cramer expressed skepticism about the potential impact of Robert F. Kennedy Jr.'s nomination as head of the Department of Health and Human Services on the drug and junk food industries. Despite Kennedy's vaccine skepticism and opposition to processed foods, Cramer believes that government staff and lobbyists will resist significant changes, and that the industries are resilient. He cautioned investors against buying stocks in these sectors, particularly those related to vaccines, during a rate-cutting cycle.
Processed food stocks plummeted as investors reacted to President-elect Trump’s nomination of Robert F. Kennedy Jr. for Health and Human Services Secretary, raising concerns over increased scrutiny of major food brands. PepsiCo, Coca-Cola, General Mills, and others saw significant declines, with Kennedy's focus on reforming the FDA and his criticism of current regulations fueling fears of tighter oversight on popular snack and beverage products.
General Mills Inc. has acquired the North American unit of Whitebridge Pet Brands for $1.45 billion, marking its fifth acquisition in the pet food sector since 2018. This division, which includes the Tiki Pets and Cloud Star brands, generated approximately $325 million in US sales over the past year.
The global pet healthcare market is projected to grow from $239.29 billion in 2023 to $255.96 billion in 2024, with a CAGR of 7.0%. Key drivers include an increasing pet population, advancements in veterinary care, and a focus on preventive health. By 2028, the market is expected to reach $353.66 billion, driven by trends such as pet humanization and economic prosperity.
General Mills, Inc.
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general mills to discuss food dye regulations with federal officials
19:51 20.11.2024
Cramer doubts RFK Jr. will disrupt drug and junk food industries
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processed food stocks decline amid concerns over regulatory changes under trump
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global pet healthcare market projected to reach 353 billion by 2028
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03:01 29.10.2024
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