YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Kellogg is getting out of the cookie business, instead focusing on snacks and cereal.
The company announced it penned a deal to sell its Keebler cookies, Famous Amos, Mother's, Murray's, Girl Scout cookies and fruit snacks brands for $1.3 billion to Ferrero. The latter company makes Nutella, Tic Tacs and Ferrero Rocher chocolates.
"Divesting these great brands wasn't an easy decision," said Steve Cahillane, Kellogg's CEO, in a statement. "This divestiture is yet another action we have taken to reshape and focus our portfolio, which will lead to reduced complexity, more targeted investment and better growth."
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