Nonprofit, nonpartisan journalism. Supported by readers.


Tuesday A.M. Report

General Mills expects sales to grow 18 percent by 2015, Valspar Q1 profit rises,AGA Medical Q4 earnings beat estimates, and pending PepsiAmericas sale leads M&A list.

General Mills expects sales to grow 18 percent by 2015: At an investor conference today, General Mills said it expects its revenue to grow to $18 billion in fiscal 2015, up roughly 18 percent from its forecasted $14.7 billion in sales this year. The Golden Valley-based food manufacturer, whose products include Cheerios cereal and Yoplait yogurt, said it will target growing consumer segments such as “baby boomers, millennial families and the rising middle class in emerging markets around the world” to drive its growth moving forward. Read full story

Valspar Q1 profit rises: The Valspar Corp. released its first-quarter earnings today, posting improvements from the same period a year ago and beating analysts’ projections. Minneapolis-based Valspar, a  maker of paints, posted net income of $33.9 million, or 34 cents per share, for the quarter ended Jan. 29. Thomson Reuters’ average analyst estimate predicted earnings of 28 cents per share. Read full story

AGA Medical Q4 earnings beat estimates: AGA Medical Holdings’ earnings beat analyst estimates in the fourth quarter of 2009, the medical device maker’s first full quarter as a public company. Excluding one-time items, Plymouth-based AGA posted an adjusted net profit of $$7.3 million, or 17 cents per share, for the quarter ended Dec. 31. That compares to income of $7.4 million, or 35 cents a share, in the year-ago period. Read full story 

Pending PepsiAmericas sale leads M&A list: Merger and acquisition activity in Minnesota slowed to a crawl in 2009, with the number of deals down 40 percent, compared with an already-sluggish 2008. But for Brian Wenger, an attorney at Minneapolis-based Briggs & Morgan, there was at least one major transaction that kept him busy: PepsiAmericas Inc.’s pending $2 billion sale to beverage giant PepsiCo Inc. The sale, which has yet to officially close, ranks No. 1 on the Business Journal’s list of the largest M&A transactions for 2009. Read full story