BATTLE CREEK, MI (WKZO AM/FM) — Kellogg has made no secret of the fact that their cookie and other non-cereal brands were up for sale, and they finally found a buyer overseas.
The Italian firm Ferrero wanted a bigger share of the U.S. market. Ferrero are the makers of Nutella and other snack foods.
After the sale closes in July they will also own Keebler, Famous Amos and Mothers cookie brands and six of the U.S. factories that manufacture the goodies, including ice cream cones, fruit snacks and pie crust.
None of the plants are in Battle Creek.
Kellogg officials say the sale is expected to impact about 30-jobs white collar jobs in Michigan.
Kellogg is selling the brands for $1.3-billion. That’s a lot less than the $3.86-billion they paid for the firms in 2001.
The cereal maker plans to use the proceeds to pay down debts.
(copy written by John McNeill)
