KELLOGG COOKIES AND FRUIT SNACKS acquired by THE FERRERO GROUP
Context
In April 2019, Ferrero agreed to acquire Kellogg Company's cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses for , a carve-out that generated sales of approximately in 2018 and closed on July 29, 2019, following customary regulatory approvals. The Italian confectionery group, controlled by the Ferrero family, thereby adds a portfolio of cookie brands to a stable already home to Nutella, Kinder, Ferrero Rocher and Tic Tac. The acquired assets include Keebler, Famous Amos, Mother's, Murray sugar free cookies and Little Brownie Bakers, the supplier of cookies to the Girl Scouts, alongside the fruit snacks business comprising Stretch Island and Fruity Snacks, plus Keebler ice cream cones and pie crust products. Settled in cash, the deal marks a further step in Ferrero's expansion beyond chocolate and confectionery, following earlier acquisitions since 2017.
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Target
Founded in 1906 in Battle Creek, Michigan, Kellogg built its business around ready-to-eat cereal before expanding into cookies, crackers, and fruit snacks. The company operates a portfolio of brands that includes Keebler, Famous Amos, and Murray cookies, alongside fruit snack lines such as Stretch Island. Its products reach consumers through grocery retailers, mass merchandisers, and convenience channels across North America and international markets. Manufacturing and distribution are handled through a network of plants and warehouses, though specific site counts are not disclosed in the source material. The business model relies on high-volume production of shelf-stable snack foods, supported by brand marketing and retail partnerships. Kellogg's cereal operations remain a core segment, while the cookie and fruit snack divisions serve a distinct snacking occasion. The company's history reflects a long-standing presence in the packaged food industry, with a focus on product innovation and category expansion. Its brands are positioned across value and premium tiers, targeting a broad consumer base. The firm operates in a competitive landscape alongside other global snack and cereal manufacturers.
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2019 | HEINEKEN | OEDIPUS | NETHERLANDS | Wines & Spirits |
| 06/2019 | MONDELEZ INTERNATIONAL | PERFECT SNACKS | UNITED STATES | Food Products |
| 04/2019 | PAI PARTNERS | ECOTONE | NETHERLANDS | Food Processing |
| 04/2019 | DANONE | MICHEL ET AUGUSTIN | FRANCE | Food Products |
| 02/2019 | PERMIRA | HANA GROUP | FRANCE | Food Products |
| 02/2019 | BRIMSTONE INVESTMENT | CLOVER INDUSTRIES | SOUTH AFRICA | Dairy |
| 01/2019 | ASAHI EUROPE | FULLERS BEER BUSINESS | UNITED KINGDOM | Wines & Spirits |
| 12/2018 | MADEMOISELLE DESSERTS | DELICE DES 7 VALLEES | FRANCE | Bakery / Pastry |
| 11/2018 | PARQUEST CAPITAL | SOPRAL | FRANCE | Petfood |
| 11/2018 | CARGILL | CAMPOLLO | COLOMBIA | Meat & Cured Meat |
REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 500M - 1b USD
EBITDA range: 50M - 100M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: kellogg cookies and fruit snacks
Acquirer: the ferrero group