A Unique Balance of Businesses

• Stable, predictable core earnings

• Significant synergy opportunities

• Top line growth opportunities

• Substantial cash generation

• Significant growth potential

• Large growing categories

• Strong national brands

• Value-added margins

8-10% EARNINGS GROWTH 1

Branded Growth Opportunities

Dairy Group/

Private Label

1 Excludes possible plant closing costs, future acquisitions/divestitures and

one-time items

Previous slide

Next slide

Back to first slide

View graphic version