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.
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