Ferrero wraps up $1.3bn acquisition of Kellogg’s cookies and fruit snacks businesses
Food acquisition news : Italian confectionery group Ferrero has wrapped up its previously announced $1.3 billion acquisition of the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg.
Through the deal, Ferrero has acquired a cookie portfolio that includes the Keebler cookies brand, Famous Amos cookies, Murray sugar-free cookies, family cookie brand Mother’s, and also Little Brownie Bakers, the supplier of cookies to the Girl Scouts.
Lapo Civiletti – CEO of the Ferrero Group, said: “With this acquisition, we further strengthen our position in the key North American market by adding these iconic brands to our portfolio. We very much look forward to building our journey of growth together.”
Apart from the brands, the Italian confectionery group has acquired six owned US food manufacturing plants in Allyn in Washington, Florence and Louisville in Kentucky, Augusta in Georgia, and two manufacturing facilities in Chicago, Illinois and a leased manufacturing plant in Baltimore in Maryland. The acquired manufacturing plants will be run by Ferrara Candy Company, which was acquired in 2017 by a Ferrero-related company.
Todd Siwak – CEO of Ferrara Candy Company, said: “This transaction creates a leading snacking platform with enhanced ability to be the growth partner of choice for our customers and win with consumers. 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.”