Kellogg selling Keebler, other brands for $1.3 billion

Kellogg is selling its Keebler and Famous Amos cookie brands

Kellogg is selling its Keebler and Famous Amos cookie brands

Along with Keebler, the Battle Creek, Michigan, company said Monday that it will sell Mother's and Famous Amos cookie brands, as well as its fruit-flavored snack, pie crust and ice cream cone businesses, to the Italian candies maker Ferraro. According to the Associated Press, the Keebler brand, along with Mother's and Famous Amos cookie brands will be part of the sale.

"The Ferrero Group. will acquire the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Company", which generated sales of approximately $900 million in 2018, it said. Its cookie business, which includes Keebler, Mother's, Famous Amos and Murray's, netted about $900 million previous year.

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

China set to regulate all fentanyl-related drugs
But China may not be able to enforce the new rules, Pardo says. "[Authorities] already have problems enforcing existing laws". The Chinese government has, of course, denied that China is the source of the influx of fentanyl into the United States .

Ferrero, founded as a family business in 1946 and now the third-largest company in the global chocolate confectionery market, has acquired several USA brands and businesses since 2017. "Divesting these great brands wasn't an easy decision, but we are pleased that they are transitioning to an outstanding company with a portfolio in which they will receive the focus and resources to grow", Steve Cahillane, Kellogg's chairman and CEO, said in a news release. Ferrero is best known in the U.S.as the maker of Nutella.

The cash transaction is expected to close by the end of July.

Recommended News

  • Rakuten expects big gain from Lyft stake

    Rakuten expects big gain from Lyft stake

    Ride hailing companies like Lyft have become more prominent throughout the last few years. Fast forward to August after its March debut the company had lost 50 percent of its value.
    April Fool's, right? Tom Brady causes stir with first-ever tweet

    April Fool's, right? Tom Brady causes stir with first-ever tweet

    Boston.com notes that while Brady's post-2019 contract is still in the works, the 41-year-old quarterback is far from retirement. It was Brady's first-ever tweet, as Fox News pointed out; he joined the social media platform last month.

    Australia's housing downturn propelled by elite urban areas

    CoreLogic head of research Tim Lawless said there were some signs that the rate of decline was starting to ease. Sydney and Melbourne were again the hardest hit, falling 0.9 per cent and 0.8 per cent respectively.
  • Wide Receiver Odell Beckham Jr.: Browns Trade 'Was Definitely a Shock'

    Wide Receiver Odell Beckham Jr.: Browns Trade 'Was Definitely a Shock'

    I'm going to live right down the street from you, we're going to be on the same team. "Him and I dreamed this". Beckham said how he followed the Browns from afar after the trade and believed them to be an ascending team.
    Chris Rock: 'They Said No Jussie Smollett Jokes.' Forget About That

    Chris Rock: 'They Said No Jussie Smollett Jokes.' Forget About That

    She was present to accept the award, and paid homage to the people who were nominated in the same category as her. The Cook County State's Attorney's Office dropped all charges against Smollett on Tuesday.

    Burger King Tests New Impossible Whopper At Select Locations

    Food binders are then used to keep the ingredients together, and the recipe is finalized with fats from coconut oil and soybeans. The plant protein startup recently revealed a new recipe, created to look and taste even more like meat.
  • President Trump

    President Trump "Cheats at the Highest Level" on Golf Course: Book

    Reilly has spoken to several players, both professional and amateur, who have shared a course with Trump. Reilly also tells another story in his book that involves Trump claiming that his handicap is a 2.8.
    Apple pulls plug on AirPower wireless charging mat

    Apple pulls plug on AirPower wireless charging mat

    The early announcement of AirPower, along with a wirelessly charged version of its AirPods headphones, was a break in that tradition.

    LeBron James Could Play In 2020 Tokyo Olympics

    The Lakers were officially eliminated from the playoffs by former Laker D'Angelo Russell and the Brooklyn Nets on March 22. In 55 games this season, LeBron averaged 27.4 points, 8.5 rebounds, and 8.3 assists.
  • Google Finally Fixed Ambient Display Screen Flashes on Pixel 3!

    Google Finally Fixed Ambient Display Screen Flashes on Pixel 3!

    Interestingly, Verizon actually stopped selling the smaller Pixel 2 almost six months back, keeping the XL version around. Google is rumored to be launching a less expensive, mid-range phone that's been nicknamed the Pixel 3a or Pixel 3 Lite .
    Countdown: Liverpool's top five performers against Tottenham

    Countdown: Liverpool's top five performers against Tottenham

    Mauricio Pochettino's side now face Crystal Palace on Wednesday, and then change tournaments as they prepare to play Manchester City in the first leg of the Champions League's quarterfinals.
    Google Maps brings snake back for April Fools

    Google Maps brings snake back for April Fools

    Cairo, San Francisco, London and Tokyo are all options in the app, or the user can choose to play all over the entire world. In Google Maps, press the menu button in the top left of the screen, then scroll down to " Play Snake " in the menu.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.