What happened with the cereal team?

1. Kellogg's Plant Closures: In late 2022 and early 2023, Kellogg's announced plans to close several cereal production facilities in the United States. The closures were part of a cost-cutting strategy aimed at improving the company's financial performance.

2. Post Holdings Mergers: In 2018, Post Holdings acquired Weetabix, a British cereal manufacturer, for $1.4 billion. The acquisition strengthened Post's position in the global cereal market and diversified its product portfolio.

3. General Mills' Innovation: General Mills, another major cereal producer, has focused on innovation and new product launches in recent years. The company has introduced new cereal flavors, formats, and packaging to attract consumers and stay competitive.

4. Health and Wellness Trends: There has been a growing trend towards healthier eating habits, which has impacted the cereal industry. Many companies have responded by launching cereals with reduced sugar, higher fiber, and other beneficial ingredients.

5. Marketing and Advertising: Cereal companies continue to invest heavily in marketing and advertising campaigns to promote their products and reach consumers. This includes both traditional advertising channels like television and print, as well as social media and digital marketing strategies.

6. Global Expansion: Major cereal companies have been expanding their global presence by entering new markets or expanding their distribution networks in existing markets. This growth strategy aims to increase sales and revenue internationally.

7. Partnerships and Collaborations: Cereal companies have engaged in partnerships and collaborations to drive growth and innovation. These partnerships can involve other food companies, retailers, or non-food brands.

8. Sustainability Initiatives: Many cereal companies have embraced sustainable practices and initiatives. This includes reducing waste, sourcing ingredients responsibly, and adopting environmentally friendly packaging solutions.

9. M&A Activity: There have been several mergers and acquisitions within the cereal industry in recent years. For example, in 2021, The Kraft Heinz Company acquired Annie's, a natural and organic food brand known for its cereal products.

10. Consumer Preferences: Changing consumer preferences have influenced the cereal industry. For instance, there has been a rise in demand for gluten-free, organic, and plant-based cereals. Companies have adapted their product offerings to cater to these preferences.