Kellogg is selling its Keebler cookie business and other snack and dessert brands to Ferrero Group for $1.3 billion
Kellogg Co. agreed to sell its Keebler cookie business and other snack and dessert brands to Ferrero Group for $1.3 billion in cash, as the packaged-food company seeks to shift its portfolio toward what it sees as products with better growth prospects.
Battle Creek, Mich.-based Kellogg said in November it was considering the sale of the Keebler, Famous Amos and other cookie brands, as well as its fruit-snacks business. Ferrero is also buying Kellogg’s pie crusts and ice cream cones brands.
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