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 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. FERRERO TO ACQUIRE KELLOGG COMPANY’S COOKIES AND FRUIT SNACKS BUSINESSES. “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.”. LUXEMBOURG — The Ferrero Group has agreed to acquire Kellogg Co.'s selected cookie, fruit snack, pie crust and ice cream cone businesses in a cash transaction valued at $1.3 billion. These businesses generated sales of approximately $900 million in 2018. 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. Oakbrook Terrace, Ill.-based Ferrara Candy Co., which was bought out by Ferrero in 2017, will manage manufacturing facilities acquired from Kellogg. LUXEMBOURG — The Ferrero Group signed a definitive agreement to acquire Kellogg Co.'s cookie and fruit snack businesses for $1.3 billion. The Ferrero Group has acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust business from The Kellogg Co. 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. “With this transaction, I look forward to bringing many iconic Kellogg brands into the Ferrero portfolio, to welcoming our new colleagues to the extended Ferrero community, and to continuing Ferrero’s strong track record of growing brands, as we have through our successful acquisitions of Fannie May, Ferrara Candy Company, and the former Nestlé U.S. confectionary business. 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 … The Ferrero Group signed a definitive agreement to acquire Kellogg Co.’s cookie and fruit snack businesses for $1.3 billion. In November 2018, Battle Creek, Mich.-based Kellogg said it was looking to sell its cookie and fruit snack business because these sectors had struggled in competing for resources and investments. 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. 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. The companies announced the transaction, which is valued at $1.3 billion, in April. The Ferrero Group has acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust business from The Kellogg Co. 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. The Italian owner of Nutella and Fannie May chocolates is buying a portion of Kellogg’s North American snacks business including Keebler and Famous Amos cookies - a deal valued at $1.3 billion.. The acquisition is the latest in a string of deals for Ferrero. Italian company Ferrero SpA, the maker of Nutella spread, will acquire the Kellogg brands, including Keebler and Famous Amos, as the cereal maker … 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. The Ferrero Group has won out in the race to acquire the cookie business of Kellogg Co., comprising Keebler and other brands. 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. Kellogg sells products in more than 180 countries. 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. All Rights Reserved. 09:50 2019. The agreement is worth $1.3 billion. The businesses generated sales of approximately $900 million in 2018, according to the companies. We have great respect for Kellogg, its legacy and values, and are proud that Kellogg has chosen Ferrero as a good home for these businesses.” Lapo Civiletti, CEO of the Ferrero Group, said, “We are acquiring a portfolio of well-established brands that consumers love, with very strong market positions across their respective categories, allowing us to significantly diversify our portfolio and capitalize on exciting new growth opportunities in the world’s largest cookies market.” Todd Siwak, CEO of Ferrara Candy Company, commented, “The acquisition presents an exciting opportunity to advance our strategic growth objectives and we look forward to sharing our plans for the business with our customers, suppliers and other partners in the coming weeks and months, and welcoming our new colleagues from Kellogg.”The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the second half of the year.JP Morgan Securities plc and Davis Polk & Wardwell LLP served as advisors to Ferrero. 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. April 03. Spread the love. Ferrero will acquire a strong portfolio of beloved brands in the cookie category, including the iconic cookie brand Keebler®, top selling on-the-go Famous Amos® cookies, the premium family cookie brand Mother’s®, and Murray® sugar free cookies, as well as Little Brownie Bakers®, supplier of cookies to the Girl Scouts. 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 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). Ferrero Continues to Strengthen its Position in the North American Market. Kellogg Co. agreed to sell its cookies and fruit snack brands including Keebler and Famous Amos to Ferrero for $1.3 billion, as the cereal maker refocuses on the fast-growing parts of its business. The Ferrero Group is acquiring the cookie, fruit and fruit-flavoured snack, ice cream cone and pie crust businesses from Kellogg Company for $1.3 billion (€1.16 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 … These businesses generated sales of approximately $900 million in 2018. We very much look forward to building our journey of growth together," said Lapo Civiletti, CEO of the Ferrero Group. Ferrero Acquires Kellogg’s Cookies and Fruit Snacks Business For $1.3 Billion. Ferrero welcomes the assessment and input by third parties, such as Mighty Earth, which will support Ferrero in achieving its goals, in line with both its internal policies and the Cocoa and Forests Initiative. 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. “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. As part of the transaction, Ferrero will acquire a cookie portfolio that includes the iconic Keebler and Famous Amos brands, as well as premium family cookie brand Mother’s, Murray sugar free cookies, and Little Brownie Bakers, supplier of Girl Scout cookies. 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. 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.. Ferrero recognizes that deforestation and forest degradation is … Ferrero will acquire the Famous Amos, Keebler and fruit snack lines from Kellogg as part of a $1.3 billion deal. The Ferrero Group announced a definitive agreement pursuant to which it will acquire the cookie, fruit and fruit-flavoured snack, ice cream cone and pie crust businesses from Kellogg Company for $1.3 billion. “With this acquisition, we further strengthen our position in the key North American market by adding these iconic brands to our portfolio. The Kellogg-Ferrero deal, expected to close by the end of July, was first reported by CNBC. 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 … “This transaction creates a leading snacking platform with enhanced ability to be the growth partner of choice for our customers and win with consumers,” said Todd Siwak, CEO of Ferrara Candy. Ferrero, an Italian chocolate giant, is acquiring the biscuit and snack businesses of the American Kellogg Company for $1.3 billion. 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. Ferrero will buy Kellogg's Keebler cookies, Famous Amos, Mother's, Murray's, Girl Scout cookies and fruit snacks brands for $1.3 billion. Print This Article. The divestiture is part of Kellogg's plan to focus more strategically on core brands. 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. Ferrero Continues to Strengthen its Position in the North American Market. © 2020 Ferrara Candy Company. 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, the Italian 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, 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.
Chinese Herbs For Migraines, Applications Of Divide And Conquer, Food And Feeding Habit Of Oreochromis Niloticus, Blackberry Passport Android Rom, Sony Dvp-sr370 Dvd Player, Lidl Peanut Butter Nutrition, Haier Window Ac Filter Replacement, Hella Bitters Vs Angostura, British Government History Timeline, Terraria Mimics Not Spawning, Nikon D5600 Body,
