Kellogg Completes Sale Of Keebler Cookies To Ferrero
Kellogg Company has announced that it has completed the sale of Keebler cookies and other selected businesses to the Fererro Group.
The deal includes select cookie brands like Keebler, Mother's, Famous Amos, Murray's, and Murray's Sugar Free, as well as cookies manufactured for Girl Scouts of the United States of America.
It also includes Kellogg's Fruity Snacks fruit-flavoured snacks, Stretch Island fruit strips, pie crusts, and ice cream cones businesses.
The transaction is valued at $1.3 billion, and includes brands and assets primarily associated with these businesses.
'Ability To Focus'
Kellogg's chairman and CEO, Steve Cahillane, said, "This sale strengthens our ability to focus on the areas of our business with the biggest growth opportunities, which is a key component of our Deploy for Growth Strategy."
The divested brands were a part of Kellogg's North America snacking business unit.
Kellogg has retained the rest of the division, including its crackers, salty snacks, wholesome snacks, and toaster pastries brands.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.