A Green Giant Farewell; Mobile-ads: Verizon Set to Unleash Service; Everything Is Fiscally Awesome at Lego

Yo ho ho…

Image courtesy of  Mister GC/FreeDigitalPhotos.net

Image courtesy of Mister GC/FreeDigitalPhotos.net

It’s time for the Jolly Green Giant to pack his bags. Together with Le Sueur, the two brands are getting some new digs over at B&G Foods, home to favorites such as Cream of Wheat and snack sensation Pirate’s Booty (a personal fave). B&G is paying $765 million in cash for the joy of adding the oversized brand symbol to its coffers and is expecting the Giant and his 160 plus products to bring in net sales of over half a billion, adding 60 cents per share. Jolly Green Giant and Le Suer are currently under General Mills, however, the maker of  Cheerios has been noting a shift in consumer preferences and has decided now would be a good time to unload the two companies. Apparently, shoppers are preferring fresher selections, as opposed to the sauce laden and frozen offerings that Green Giant and Le Sueur crank out. General Mills, which also has Yoplait yogurt, will now focus its efforts – and of course, money – into cultivating its brands and geographical locations that have more potential. It will also put a bit more oomph into some edible health and wellness endeavors. Which basically means it will shift gears to whatever products and areas will bring in the most amounts of cash. Sounds fair.

You’ve got ad-sales…

Image courtesy of twobee/FreeDigitalPhotos.net

Image courtesy of twobee/FreeDigitalPhotos.net

AOL (remember them?) also did a little shopping today picking up Maryland-based Millennial Media Inc. to the tune of $250 million to broaden its mobile-ad market share. At that price, the company was bought for $1.75 a share, a 31% premium to its closing price on Wednesday. Millenial took in almost $300 million in sales with an $83 million net loss last year. Verizon Communications Inc picked up AOL back in June for a trifle $4 billion, in an attempt to beef up its mobile ad technology, something at which AOL apparently excels. Verizon AOL now has big plans to challenge Facebook and Google (is that even possible?) who currently reign supreme over the mobile-ad market, and unleash its own mobile streaming video service called Go90.

Brick by brick…

Image courtesy of ArtJSan/FreeDigitalPhotos.net

Image courtesy of ArtJSan/FreeDigitalPhotos.net

Lego may not be a publicly traded company, but the company sure manages to pull in some boffo numbers, even surpassing Mattel as the world’s largest toymaker. Which is particularly insane since it only makes…well, Lego.  And while Mattel’s Barbie, Hot Wheel and Fisher-Price products still have sway, those toys, can’t seem to get a plastic leg up on Lego’s mesmerizing Ninjas and elves and…well, everything else. In fact, Mattel’s revenue fell almost 5% to $1.91 billion, with unwelcome help from Barbie and company. Lego, however, benefitted from foreign currency swings, not to mention a boost from The Lego Movie. The Danish company scored 3.55 billion Danish kroner, which translates to $537.5 million in the first half of the year and took in a 31% jump in profits. The company’s revenue also rose 23% to $14.14 billion. And there’s no reason to forecast that theses numbers won’t continue to rise. With a new Star wars movie coming out, which always does a fine job of boosting Lego sales, and a new video game, Lego Dimensions, due out late September, the toy company’s outlook is nothing but rosy.

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