The Ferrero Group has completed its acquisition of Kellogg Co.’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses.
The companies announced the transaction, which is valued at $1.3 billion, in April. With the sale, Ferrero acquired a portfolio that includes Keebler, Famous Amos, Mother’s and Murray cookies, as well as Little Brownie Bakers, supplier of cookies to the Girl Scouts of the U.S.A. Other brands in the transaction include Stretch Island and Fruit Snacks fruit flavored snacks and Keebler’s ice cream cones and pie crust products. Ferrero also acquired six food manufacturing facilities from Kellogg Co. located in Allyn, Wash.; Augusta, Ga.; Florence and Louisville, Ky.; and Chicago, as well as a leased manufacturing facility in Baltimore.
Collectively, the businesses generated approximately $900 million in sales in 2018, according to Kellogg.
“It is with great pleasure that we welcome our new colleagues and brands to Ferrero,” said Giovanni Ferrero, executive chairman of the Ferrero Group. “This iconic portfolio of beloved brands is an excellent entry into new strategic product categories for Ferrero.”
Last year, Ferrero acquired Nestle U.S.A.’s confectionery business, Fannie May Confections and Ferrara Candy Co.
Kellogg said the divesture is part of its strategic review and restructuring. The company said it will use the cash proceeds from the sale to reduce outstanding debt.
“This sale strengthens our ability to focus on the areas of our business with the biggest growth opportunities, which is a key component of our ‘Deploy for Growth Strategy,’” said Steven A. Cahillane, chief executive officer and chairman at Kellogg.
By Sam Danley
Source: Food Business News
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
