Kellogg Partners With Wilmar On Snack Venture
Published on Sep 25 2012 3:08 PM in A-Brands
Kellogg is to team up with Singapore agribusiness giant Wilmar International to manufacture and sell cereal and snacks in China. With a turnover $44,710 million and net profits of $1,601 million in 2011, Wilmar is the world's largest processor of palm and lauric oils, as well as being the leader in edible oil-refining.
"China's snack-food market alone is expected to reach an estimated $12 billion by year-end, up 44 per cent from 2008," said John Bryant, Kellogg president and CEO. Each company will hold a 50 per cent stake in the Shanghai-based venture. Wilmar International ranked 223rd in the Fortune Global 500, and is among the top 10 raw sugar producers in the world.
Traditionally a cereal company, Kellogg entered the snack market in the US and Canada last year and is to introduce the Special K Cracker Crisps range in the UK, following its "proven success" in North America. (25 Sept)
© 2012 - ESM: European Supermarket