Kellogg to sells Famous Amos and Keebler brands
Kellogg announced the sale of its cookie brands last year, along with Murray and Mother’s cookies and Stretch Island fruit snacks.
Kellogg is nearing a deal to sell its Keebler, Famous Amos and fruit snacks businesses to Nutella-owner Ferrero for between $1 billion and $1.5 billion, according to a CNBC report.
Ferrero beat out competitor Hostess Brands for the Kellogg cookie assets, according to CNBC. The owner of Twinkies and Ho-Hos had been looking to acquire the Keebler business through a “Reverse Morris Trust,” which is described as an unusual deal structure that allows for a tax-efficient combination of two similarly sized companies, according to the article.
Kellogg announced the sale of its cookie brands last year, along with Murray and Mother’s cookies and Stretch Island fruit snacks.
To read the CNBC report, click here.
