Nutella maker Ferrero buys Kellogg cookie business for 1.3 bn dollars
Italy's Ferrero, a confectionery giant that makes the Nutella hazelnut spread, said on Monday it struck a 1.3-billion-dollar deal to buy from US rival Kellogg Company its biscuit, fruit snack and ice cream divisions.
The deal covers the "Keebler," "Famous Amos," "Mother's," "Murray" and "Little Brownie Bakers" cookie brands, as well as "Stretch Island" fruit snacks and "Keebler's" ice cream cones and pie crust products, a statement said.
It will also result in Ferrero taking over from Kellogg: six food manufacturing facilities in Allyn in Washington State, Augusta in Georgia, and Florence and Louisville in Kentucky; two plants in Chicago, Illinois; and a leased manufacturing facility in Baltimore, Maryland.
"[The transaction is] an excellent strategic fit for Ferrero as we continue to increase our overall footprint and product offerings in the North American market," said Ferrero's Chief Executive, Giovanni Ferrero. (dpa)
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