Italian Candy Billionaire Ferrero To Buy Kellogg’s Brands In $1.3 Billion Deal

Apr 03, 2019 1052

BY: Noah Kirsch

Ferrero Group, the confections giant best known for Nutella and Tic Tac, will acquire a number of iconic American brands from Kellogg for $1.3 billion, the company announced on Monday. It marks the Luxembourg-based firm’s latest foray into the U.S. market.

The deal encompasses Kellogg’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses, which generated a combined $900 million in 2018 revenue. That includes Keebler pie crust, Famous Amos cookies and Little Brownie Bakers, one of two suppliers of Girl Scout cookies.

Read more

SOURCE: https://www.forbes.com

You may be interested