AUSTRALIA: Kellogg Australia Acquires Convenience Foods Business
Kellogg Company (NYSE: K - news) announced today that its Australian division, Kellogg (Aust) Pty Ltd, has acquired the privately owned convenience foods business jointly operated by Jabuna Pty Ltd and Surene Pty Ltd. Terms of the acquisition were not disclosed.Kellogg will establish a new company called The Healthy Snack People to operate the business, which manufactures the Sunbrite line of baked convenience foods and the Be Natural line of fruit and nut bars in Australia."This acquisition will broaden our convenience foods portfolio and enhance our growth opportunities, both in Australia and in export markets," said Jacobus "Koos" Groot, executive vice president, Kellogg Company, and president, Kellogg Asia-Pacific. "Our fast-growing convenience foods business in Australia is a great complement to our market-leading ready-to-eat cereal business as we plan for strong long-term growth."With sales of nearly $7 billion, Kellogg Company is the world's leading producer of cereal and a leading producer of convenience foods, including toaster pastries, cereal bars, frozen waffles, wholesome snacks, and meat alternatives. The company's brand names include Kellogg's, Special K, Rice Krispies, Eggo, Pop-Tarts, Nutri-Grain, Morningstar Farms and Kashi.
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