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."
Read more from CNN Business.
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