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Kellogg agreed to sell its cookies and fruit snack brands, including Keebler and Famous Amos to Ferrero SpA for $1.3 billion, as the cereal maker refocuses on the fast-growing parts of its business.
The businesses generated sales of about $900 million in 2018, the companies said Monday. The all-cash transaction is expected to close by the end of July. As part of the deal, Ferrero will acquire six US food manufacturing facilities across the US, plus a leased facility in Baltimore.
“Divesting these great brands wasn’t an easy decision,” Steve Cahillane, Kellogg’s chief executive officer, said in a
The businesses generated sales of about $900 million in 2018, the companies said Monday. The all-cash transaction is expected to close by the end of July. As part of the deal, Ferrero will acquire six US food manufacturing facilities across the US, plus a leased facility in Baltimore.
“Divesting these great brands wasn’t an easy decision,” Steve Cahillane, Kellogg’s chief executive officer, said in a
