The Ferrero Group and its related companies (“Ferrero”), announced that it has completed its previously announced acquisition of Kellogg’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses for $1.3 billion.
The acquired brands represent a portion of Kellogg’s North America snacking business. Specifically, it includes select cookies businesses, including brands like Keebler, Mother’s, Famous Amos, Murray’s, and Murray’s Sugar Free, as well as cookies manufactured for Girl Scouts of the United States of America.
It also includes its Kellogg’s Fruity Snacks fruit-flavored snacks, Stretch Island fruit Strips, pie crusts, and ice cream cones businesses, as well as the manufacturing facilities acquired from Kellogg Company.
Ferrero, which was founded in the northern Italian town of Alba in 1946, is on an aggressive acquisition campaign under the leadership of Giovanni Ferrero, who took over the company following his father’s death in 2015, according to Reuters.
“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.”
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.”
The brands will be managed by Ferrara Candy Company, which was acquired by a Ferrero-related company in 2017.
Todd Siwak, CEO of Ferrara Candy Company, added, “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.”
Kellogg retains the rest of its North America snacking businesses, including its crackers, salty snacks, wholesome snacks, and toaster pastries brands.