The companies announced the transaction, which is valued at $1.3 billion, in April. Kellogg Co. agreed to sell its cookies and fruit snack brands including Keebler and Famous Amos to Ferrero for $1.3 billion, as the cereal maker refocuses on the fast-growing parts of its business. Joe Biden’s victory in battleground Wisconsin was confirmed Monday following a partial recount that only added to his 20,600-vote margin over President Donald Trump, who has promised to file a lawsuit seeking to undo the results. As a result of those deals, Ferrero’s revenue reached $12 billion in the fiscal year ended in August 2018. Kellogg to sell Keebler, Famous Amos to Nutella-owner Ferrero That portfolio complements its existing brands as nine in 10 confection consumers overlap with cookie and sweet treat shoppers , noted Sarah Kittel, Ferrara’s head of corporate communication. Ferrero is best known for the brand Nutella hazelnut cream. Ferrero Completes Acquisition of Kellogg Company’s Cookies and Fruit Snacks Businesses. The acquired brands, including Keebler… CHICAGO — Under new ownership, the Keebler brand is beginning to roll out updated recipes and packaging for its cookie brands, as well as a new look for Ernie the Elf. In a statement, Kellogg said the businesses it is selling, including cookies manufactured for the Girl Scouts, produced net sales of nearly $900 million and operating profit of approximately $75 million in 2018. By Jessica Wohl. Editing by Arun Koyyur and Kirsten Donovan. See here for a complete list of exchanges and delays. The owner of Twinkies and Ho-Hos had been looking to acquire the Keebler … A $1.3 billion deal was announced April 1 between Kellogg and the Italian food giant, whose U.S. brands include Nutella spread and former Nestlé candy brands like Butterfinger. JP Morgan Securities and Davis Polk & Wardwell LLP advised Ferrero. Kellogg acquired Keebler Foods, founded in 1853, in 2001 for $3.86 billion. The Ferrero Group, owner of dessert brands like Nutella, announced Monday it will acquire more beloved cookie, fruit snack, pie crust and ice cream cone brands from Kellogg. Giovanni Ferrero has been on a buying spree in recent years. Last summer, The Ferrero Group, maker of Nutella, purchased the 167-year-old Keebler brand along with Famous Amos cookies from Kellogg’s in a deal worth $1.3 billion. LUXEMBOURG — The Ferrero Group has completed its acquisition of Kellogg Co.’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses. All quotes delayed a minimum of 15 minutes. The Ferrero Group has won out in the race to acquire the cookie business of Kellogg Co., comprising Keebler and other brands. Kellogg will retain its crackers, salty snacks, wholesome snacks, cereals and toaster pastries brands. ALBA, Italy — The Ferrero Group has acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust business from The Kellogg Co. Comparing him to Patrick Mahomes or Deshaun Watson — two quarterbacks available when Ryan Pace traded up to draft Trubisky four years ago — almost feels cruel. Keebler cookies have seen a 55% increase in sales since early March as consumers continue to stock up on beloved indulgences during the pandemic. Ferrero will also acquire from Kellogg six U.S. food manufacturing facilities located across the country in Allyn, Washington, Augusta, Georgia, Florence and Louisville Kentucky, and two plants in Chicago, Illinois; as well as a leased manufacturing facility in Baltimore, Maryland. Ferrero Completes Acquisition of Kellogg Company’s Cookies and Fruit Snacks Businesses Business Wire LUXEMBOURG -- July 29, 2019 The Ferrero Group and its related companies (“Ferrero… Kellogg Co. agreed to sell its cookies and fruit snack brands including Keebler and Famous Amos to Ferrero for $1.3 billion, as the cereal maker … Kellogg retained the rights to other Keebler products, such as crackers and salty snacks, either under the Kellogg's or Sunshine names. We follow the stories and update you as they develop. The global confectionery company has acquired several other U.S. brands in recent years, including Chicago-based Ferrara Candy Company and Fannie May. A total of 3 acquisitions came from private equity firms.. Bears QB Mitch Trubisky fumbles his second chance. Responding to a Sun-Times investigation, the Illinois Democrat says ‘bureaucratic error and complex calculations are preventing well-meaning veterans from transferring benefits they’ve earned.’, Ferrero acquires Keebler, Famous Amos and other Kellogg brands, Hot seat heats up for Bears coach Matt Nagy after humiliating 41-25 loss to Packers. He added that the deal would also boost the Italian company’s negotiating power with big U.S. retail chains. The Ferrero Group’s largest acquisition to date was in 2018, when it acquired Nestlé S.A. - US Confectionary Business for $3.2B.The Ferrero Group has acquired in 2 different US states, and 5 countries. The Michigan-headquartered Kellogg Company has agreed on the sale of Keebler, Famous Amos, Mother’s and Murray sugar-free cookies, as well as Little Brownie Bakers, which supplies Girl Scouts cookies, for $1.3 billion. Snack Aisle With $1.3 Billion Acquisition Of Kellogg's Brands Douglas Yu Contributor Opinions expressed by Forbes Contributors are their own. Know about breaking news as it happens. U.S. food group Kellogg Co has agreed to sell its Keebler biscuits brand and other assets to Nutella maker Ferrero for $1.3 billion as it focuses on its core cereals and snacks businesses. Giovanni Ferrero, Executive Chairman of the Ferrero Group, said in a statement that the Kellogg businesses were an excellent strategic fit for the family-owned group. The $1.3 billion deal includes Keebler, Mother’s, Famous Amos, Murray’s and Murray’s Sugar Free, Little Brownie Bakers, Stretch Island and Fruity Snacks. “We have great respect for Kellogg, its legacy and values, and are proud that Kellogg has chosen Ferrero as a good home for these businesses,” Giovanni Ferrero, executive chairman of Ferrero Group said in a statement. The annual showcase of "It’s a Wonderful Life" and "White Christmas" will take place at Chi-Town Movies Drive-In. For perhaps the final time, Trubisky’s mortal sins were upchucked onto the about-to-be-frozen tundra of Lambeau Field for all the NFL to see. As Kellogg sells Keebler to Ferrero, a look back at the elves. “Divesting these great brands wasn’t an easy decision, but we are pleased that they are transitioning to an outstanding company with a portfolio in which they will receive the focus and resources to grow,’ Kellogg’s CEO Steve Cahillane said in a statement. Ernie and his pals will join a new company for the first time since 2001. Ferrero will buy Kellogg's Keebler cookies, Famous Amos, Mother's, Murray's, Girl Scout cookies and fruit snacks brands for $1.3 billion. In 2015 he made Ferrero Group’s first branded acquisition, a $170 million deal for the British chocolatier Thorntons. The businesses being sold by Kellogg had net sales of nearly $900 million in 2018, the U.S. food group said, adding that the deal, which is expected to close by the end of July, will reduce 2019 adjusted earnings per share by less than 5 percent. The Bears have been absolutely awful on offense the last two seasons, and it’s hard to see an alleged offensive guru keeping his job when they start cleaning up this mess at the end of the season. Battle Creek-based Kellogg Co. has agreed to sell Keebler, Famous Amos and other cookie and fruit snack operations to the Italian confectionery giant Ferrero Group for $1.3 billion. More than 300 businesses — including Wildberry Pancake and the Chicago Sports Complex — that have been cited one month into citywide orders against indoor gatherings and dining. Ferrero will also acquire the Kellogg fruit snacks business, including Stretch Island ® and Fruity Snacks along with Keebler’s ® ice cream cones and pie crust products. Published on April 01, 2019. MILAN (Reuters) - U.S. food group Kellogg Co has agreed to sell its Keebler biscuits brand and other assets to Nutella maker Ferrero for $1.3 billion as it focuses on its core cereals and snacks businesses. Ferrero Enters U.S. The Company’s most targeted sectors include food (100%). 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