Kellogg Company reaches agreement to sell Keebler cookies and related businesses to Ferrero
Kellogg Company today announced that it has reached a definitive agreement to sell selected cookies, fruit and fruit-flavored snacks, pie crusts, and ice cream cones businesses to the Ferrero Group and its related companies ("Ferrero"), a global confectionary group.
The cash transaction is valued at $1.3 billion (or €1.16 billion, at current exchange rates), and includes brands and assets primarily related to these businesses. Subject to customary closing conditions, including any applicable regulatory approvals, the transaction is expected to close by the end of July.