Kellogg Selling Keebler, Famous Amos, Girl Scout Cookies And Other Brands

Kellogg is selling Keebler to focus on cereal

The companies expect to close the sale in July.

Ferrero, an Italian confectionary company best known for its Nutella hazelnut cream, said Monday it will also acquire six US manufacturing plants from Kellogg in the deal. The company also was said to be among suitors expressing early interest in buying global and fresh food businesses being sold by Campbell.

The businesses generated sales of about US$900 million past year, the companies said yesterday.

The company announced today (April 1st) that candy maker Ferrero is paying $1.3 billion for the Keebler cookie business, and related fruit and fruit-flavored snacks, pie crusts and ice cream cones.

Kellogg is getting out of the cookie business to focus on snacks and cereal. The owner of Twinkies and Ho-Hos had been looking to acquire the Keebler business through a "Reverse Morris Trust", which is described as an unusual deal structure that allows for a tax-efficient combination of two similarly sized companies, according to the article.

Since the game-changing Kashi acquisition in 2000, Kellogg's scooped up Pringles in 2012 for $2.7bn and popular energy bar company RXBar in 2017 for $600m.

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For Kellogg, the long-awaited divestiture marks another step in its plan to streamline its portfolio to jettison slow-growing or under-invested brands.

Kellogg acquired Keebler Foods, founded in 1853, in 2001 for $3.86 billion.

"Shedding these units should sharpen the focus on increasing sales in core categories, bolstering operating profit". It took in sales of $12 billion previous year and has 30,000 employees.

"With this transaction, I look forward to bringing many iconic Kellogg brands into the Ferrero portfolio".

Ferrero has been one of the companies ready to snap up more brands to diversify from long-standing products that include Tic Tac mints and Kinder chocolate.

Food producers are trying to find new brands with more growth potential after sweeping shifts in consumer taste, particularly in the U.S.

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