USA: Kellogg and Salton Sign Letter of Intent for a Joint Marketing Alliance
Kellogg USA (NYSE: K) and Salton, Inc. (NYSE: SFP) announced today that they have signed a Letter of Intent to enter into a joint marketing alliance. The initial products lines involved in the alliance include Kellogg's® Pop-Tarts® Toaster Pastries and Eggo® Waffles, and Salton's Toastmaster® toasters and toaster ovens. "This alliance with Salton will provide both companies with an opportunity to reach more consumers and connect Pop-Tarts® and Eggo® products with the way they are best prepared and enjoyed - warm from toasters," said John Cook, Executive Vice President of Kellogg Company. "We are also excited about the future innovation that can come from a partnership." As part of the agreement, Kellogg and Salton will launch several joint marketing initiatives for Pop-Tarts®, Eggo® and Toastmaster® products, including print and broadcast advertising, joint trade and on-line consumer promotions, and couponing. Kellogg and Salton will also collaborate on creating Pop-Tarts® and Eggo® branded toasters, which would be promoted on Kellogg's product packaging and sold through retail channels. Leon Dreimann, Chief Executive Officer of Salton said, "We are delighted with our new alliance with Kellogg and the opportunities we will have as a result. While both companies will certainly benefit from our new agreement, we look forward to increased exposure for Toastmaster® as we align ourselves with the ever-popular Pop-Tarts® and Eggo® brands. This alliance comes at a fortuitous time as we have recently reintroduced the Toastmaster® brand with a new logo and an array of exciting new products."
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