General Mills Inc. is readying its most comprehensive attempt yet to revitalize its U.S. yogurt business amid the booming Greek-yogurt trend that has eaten into its sales.
The food giant is launching 40 new yogurt products this fiscal year, up nearly double from last year, a blueprint that Rebecca O'Grady, president of the U.S. Yoplait business, called unprecedented. The products start shipping next month, including a 100-calorie cup of its Yoplait Greek yogurt endorsed by Weight Watchers International Inc. (WTW), and Yoplait Fruplait, which claims to have twice as much fruit mixed in as the leading brand.
Industry-watchers remain skeptical as to whether General Mills can grasp a meaningful foothold in the Greek yogurt category, given the dominance of the likes of market leader Chobani, which is owned by Agro Farma Inc., or post strong growth of non-Greek yogurt products, given the fast-consumer shift to the thicker, protein-rich Greek variety.
General Mills, which reports fiscal fourth-quarter results Wednesday, should report a decline in Yoplait's sales over the past year after posting just slight growth in the previous two years. The division has sapped General Mills of a once reliable and robust growth engine.
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