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General Mills Inc. (GIS - Analyst Report) recently launched a new protein cereal under its popular brand Cheerios called Cheerios Protein.

Cheerios Protein will be available in 14.1 oz boxes and in two flavors. The crunchy “O” shaped granola clusters are available in flavors of Oats & Honey and Cinnamon Almond. Cheerios Protein Oats & Honey features whole grain oat cereal with crunchy oat granola clusters and real honey. Cheerios Protein Cinnamon Almond features oats and whole grain corn cereal with crunchy almond granola clusters and real cinnamon. When consumed with milk, both flavors offers 11g of protein, 13 vitamins and minerals along with the goodness of whole grain and fiber.

The company focuses on introducing a steady pipeline of products in an effort to boost sales momentum and capture market share. Through an innovative approach to new and established brands, the company wants to cater to the increasing global demand for packaged food. Some of these innovations, mainly in yogurt, add more nutritional value to the packaged food with more fruits, vegetables and fiber and less fat content.

The idea is to appeal to the growing numbers of health-conscious customers who prefer the convenience of packaged food without compromising on health. The company’s continuous effort to introduce new products in the fast growing food categories bodes well for long-term growth.

General Mills carries a Zacks Rank #3 (Hold).

However, better-ranked stocks in the food industry include B&G Foods Inc. (BGS - Snapshot Report), BRF S.A. (BRFS - Snapshot Report) and Aramark (ARMK - Snapshot Report). While B&G Foods and BRF S.A sport a Zacks Rank #1 (Strong Buy), Aramark carries a Zacks Rank #2 (Buy).

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