US: Kellogg to buy granola, veggie firms
Kellogg, the world's largest cereal maker, is set to buy two US firms for a combined total of up to US$150m.
The company said yesterday (6 November) that it had agreed to buy Bear Naked, a producer of natural granola products, and Wholesome & Hearty Foods Co., a producer of vegetarian foods.
In a filing to the Securities and Exchange Commission, Kellogg said it had paid around $122m in cash for the two businesses.
However, pending regulatory approvals and "other pre-closing conditions", Kellogg said it expects to close the acquisitions by the end of the year, for a total that could reach $150m.
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