Kellogg nears deal to sell Keebler and Famous Amos business to Nutella owner Ferrero [CNBC]
Hostess Brands, Inc. - Class A (TWNK)
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Source: CNBC
Kellogg nears deal to sell Keebler and Famous Amos business to Nutella owner Ferrero Daniel Acker | Bloomberg | Getty Images A box of Kellogg's Famous Amos brand cookies is arranged for a photograph in Tiskilwa, Illinois. An announcement could come as soon as Monday, the people said, requesting anonymity because the information is confidential. Ferrero beat out lead contender Hostess Brands looking to acquire the Keebler business through "Reverse Morris Trust Kellogg announced the sale of its cookie brands last year, along with Murray and Mother's cookies and Stretch Island fruit snacks. The deal is the latest in a string of acquisitions for Ferrero. The company, founded in Italy as a family business in 1946, first entered the U.S. market in 1969 with its Tic Tac mints. Over the past two years, its built up that foothold, buying Ferrara Candy Company for $1 billion and Nestle's Its U.S. strategy has been to buy brands that, like Nestle's candy business and Kellogg's cookie business, h
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