General Mills Purchases Lloyd's Barbeque Company

General Mills has purchased Lloyd's Barbeque Company (St. Paul, MN), producer of refrigerated convenience foods, with a top-selling national brand of ready-to-heat barbecued meats.

General Mills chairman and CEO, Steve Sanger, said that the acquisition gives the company a distinctive consumer brand and a new platform for product development and growth.

``We intend to build the Lloyd's franchise the same way we build our other leading brands -- with new varieties and innovative marketing.''

General Mills intends to continue production at Lloyd's St. Paul plant and will operate the business as a stand-alone subsidiary. Terms of the purchase were not disclosed.