Ferrero, an Italian chocolate giant, is acquiring the biscuit and snack businesses of the American Kellogg Company for $1.3 billion. Italian company Ferrero SpA, the maker of Nutella spread, will acquire the Kellogg brands, including Keebler and Famous Amos, as the cereal maker … It also includes its Kellogg’s Fruity Snacks fruit-flavored snacks, Stretch Island fruit Strips, pie crusts, and ice cream cones businesses, as well as the manufacturing facilities acquired from Kellogg Company. © 2020 Ferrara Candy Company. The Kellogg-Ferrero deal, expected to close by the end of July, was first reported by CNBC. “Kellogg Company’s cookie, fruit snack, ice cream cone and pie crust businesses are an excellent strategic fit for Ferrero as we continue to increase our overall footprint and product offerings in the North American market.” said Giovanni Ferrero, Executive Chairman of the Ferrero Group. “We look forward to continuing to leverage our manufacturing, distribution, marketing and go-to-market expertise as we reinvigorate and grow this strong portfolio of brands.”. FERRERO TO ACQUIRE KELLOGG COMPANY’S COOKIES AND FRUIT SNACKS BUSINESSES. “With this acquisition, we further strengthen our position in the key North American market by adding these iconic brands to our portfolio. The Ferrero Group will acquire the cookie, fruit, and fruit-flavored snack, ice cream cone, and pie crust businesses from Kellogg Co. for $1.3 billion. The Ferrero Group has won out in the race to acquire the cookie business of Kellogg Co., comprising Keebler and other brands. The company distributes in more than 170 countries and is known for brands including Tic Tac breath mints, Ferrero Rocher hazelnut chocolates, Nutella Hazelnut Spread and Fannie May chocolates. Spread the love. April 03. Ferrero was founded in 1946 in Alba, Italy, and is the third-largest company in the global chocolate confectionery market, with sales of more than $12 billion. The Ferrero Group and its related companies (“Ferrero”), a global confectionary group, today announced a definitive agreement pursuant to which it will acquire the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Company for $1.3 billion (or €1.16 billion at current exchange rates). The Ferrero Group has acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust business from The Kellogg Co. All Rights Reserved. The companies announced the transaction, which is valued at $1.3 billion, in April. The Ferrero Group has reached an agreement to acquire the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Co.. Among the cookie brands Ferrero acquires are Keebler, Famous Amos Cookies, Mother’s, Murray sugar-free cookies, and Little Brownie Bakers, supplier of cookies to the Girl Scouts. Ferrero will also acquire the Kellogg fruit snacks business, including Stretch Island® and Fruity Snacks along with Keebler’s® ice cream cones and pie crust products.Since 2017, Ferrero has acquired several U.S. brands and businesses, and, with this transaction, Ferrero will enter into new strategic product categories and will further strengthen its position in the North American market.Ferrero will also acquire from Kellogg six owned U.S. food manufacturing facilities located across the country in Allyn, Washington, Augusta, Georgia, Florence and Louisville Kentucky, and two plants in Chicago, Illinois; as well as a leased manufacturing facility in Baltimore, Maryland. 09:50 2019. Kellogg sells products in more than 180 countries. Ferrero Continues to Strengthen its Position in the North American Market. The acquisition is the latest in a string of deals for Ferrero. Global confectionery group Ferrero announced on 1 April that it had agreed to buy the cookie, fruit snack, ice cream cone and pie crust businesses of Kellogg Company for US$1.3bn. Ferrero recognizes that deforestation and forest degradation is … LUXEMBOURG — The Ferrero Group has completed its acquisition of Kellogg Co.’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses. A $1.3 billion deal was announced April 1 between Kellogg and the Italian food giant, whose U.S. brands include Nutella spread and former Nestlé candy brands like Butterfinger. The divestiture is part of Kellogg's plan to focus more strategically on core brands. These businesses generated sales of approximately $900 million in 2018. Ferrero Acquires Kellogg’s Cookies and Fruit Snacks Business For $1.3 Billion. With nearly $13 billion in sales in 2017, it produces a variety of cereal, snack and convenience brands, including Special K, Pringles, Kellogg's Frosted Flakes, Pop-Tarts and Kellogg's Corn Flakes. Ferrero will acquire the Famous Amos, Keebler and fruit snack lines from Kellogg as part of a $1.3 billion deal. The brands that Ferrero will buy include popular Keebler cookies as well as Famous Amos and Murray Sugar Free cookies and fruit snacks like Stretch Island. The $1.3 billion deal includes Keebler, Mother’s, Famous Amos, Murray’s and Murray’s Sugar Free, Little Brownie Bakers, Stretch Island and Fruity Snacks. ALBA, Italy — The Ferrero Group has acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust business from The Kellogg Co. The Ferrero Group and its related companies (“Ferrero”), a global confectionary group announced a definitive agreement pursuant to which it will acquire the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Company for … The Ferrero Group will acquire Kellogg Co.’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses for $1.3 billion. The Ferrero Group, owner of dessert brands like Nutella, announced Monday it will acquire more beloved cookie, fruit snack, pie crust and ice cream cone brands from Kellogg. The Ferrero Group and its related companies ("Ferrero"), a global confectionary group, today announced a definitive agreement pursuant to which it will acquire the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Company for …

ferrero acquires kellogg

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ferrero acquires kellogg 2020