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Published on .

Company: General Mills.

Headquarters: Minneapolis.

Sales: $8.5 billion, up 5%, for fiscal year ended May 29.

By division: Consumer foods 65.2%, restaurants 34.8%.

Leadership: Bruce Atwater, chairman-ceo; Steve Sanger, vice chairman-president.

Top brands: Big G cereals (Cheerios, Total, Kix, Cinnamon Toast Crunch); Betty Crocker baking products, fruit snacks, convenience foods; Yoplait yogurt; Red Lobster and Olive Garden restaurant chains.

Ad spending: $571 million for 1992, 19th-largest U.S. advertiser.

Lead agencies: Saatchi & Saatchi Advertising, New York; DDB Needham Worldwide, Chicago; Campbell Mithun Esty, Minneapolis; Grey Advertising, New York.

Recent successes: Cereal Partners Worldwide, joint venture with Nestle, has $400 million in sales in European markets; restaurant division increased number of units 11% in fiscal '94; Betty Crocker businesses strong.

Problem spots: Growth in sales and earnings slowed in fiscal '94; operating profits in foods fell 1% for year; recent new cereals have been disappointing; Olive Garden average unit sales slipped in fiscal '94.

1994 challenges: Convince retailers to reduce shelf prices of cereals; score new-product success in cereal; resume growth in Olive Garden sales; establish China Coast as viable third restaurant chain.

Sources: Advertising Age, company reports

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