US: Kellogg buys Russian biscuit business
Kellogg has snapped up Russian biscuit and ready-to-eat cereal business The United Bakers Group for an undisclosed sum.
The US-based cereal giant said the acquisition was an "exciting strategic development" for the company.
United Bakers, which owns brands including Yantar and Lyubyatovo, runs six plants in Russia and generates annual sales of around US$100m.
"United Bakers is a leading producer of high quality cereals and biscuits, and its existing operations will help us establish a considerable presence in this large and fast-growing market," said Kellogg president and CEO David Mackay.
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