Quaker, a subsidiary of US food and beverages giant PepsiCo, has sold its bagged cereal business to US cereal manufacturer Malt-O-Meal, in order to concentrate on its larger, more profitable boxed cereal brands.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
PepsiCo subsequently reaffirmed that it expects to achieve its previously stated targets of 13-14% earnings per share growth for the fourth quarter and full year 2002.
For the full year 2002, bagged cereals are expected to account for about 5% of Quaker’s North America food revenues.
