Wheaties Maker Powers Ahead of Kellogg
General Mills Inc., the maker of Cheerios and Wheaties, passed Kellogg Co. for the first time as the largest U.S. cereal maker based on revenue. General Mills held 32.5% of the U.S. market based on dollars spent for the 12-week period ended Dec. 6, according to Goldman, Sachs & Co. analyst Nomi Ghez, citing sales data collected by Information Resources Inc. That beats the 31.6% share notched by Kellogg. General Mills is succeeding by developing variations of its best-known brands that aren’t easily copied by makers of discount and generic cereals. Kellogg still ranks as the No. 1 U.S. seller of cereals based on number of boxes sold. Minneapolis-based General Mills closed at $78.06, down $1.06. Battle Creek, Mich.-based Kellogg fell 44 cents to close at $34.13.