Annie’s to be Acquired by General Mills

Annie’s to be Acquired by General Mills for $46 Per Share in Cash

Companies Partnering to Accelerate the Growth and Development of the Annie’s Brand

BERKELEY, Calif., Sept. 8, 2014 /PRNewswire/ — Annie’s Inc. (NYSE:BNNY) (“Annie’s”), a leading natural and organic food company, announced today a definitive agreement to be acquired by General Mills, Inc. (NYSE: GIS) (“General Mills”) for $46.00 per share in cash, for a total transaction value of approximately $820 million. This acquisition will enable Annie’s to enter a new phase of growth and success while maximizing value for stockholders. The transaction consideration represents a 51% premium over Annie’s 30-day average closing price of $30.47 as of September 5, 2014. Annie’s will continue to be headquartered in Berkeley, California.

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