Kellogg has acquired Chinese biscuit maker Zhenghang Food Company, also known as Navigable Foods, for an undisclosed sum.
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Navigable Foods, which is based in the north of China, makes a range of cookies and crackers, and generated sales of US$50m in 2007.
“Geographic expansion in high-growth markets like China will help Kellogg Company continue to deliver sustainable growth,” said president and CEO David Mackay said. “Navigable Foods’ biscuit products are a strong, strategic fit within the Kellogg portfolio and will further build our presence in China.”
The acquisition will include two manufacturing facilities located in Yishui county, Shandong province, and Fushun city, Liaoning province, as well as the company’s sales and distribution network.
The business will continue to be headquartered in the city of Qingdao, Shandong province, and will report into Kellogg’s Asia-Pacific business unit.
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By GlobalDataFounded in 1993, Navigable Foods is one of the major biscuit manufacturers in China, producing a variety of cookie and cracker products under the ZhengHang brand.
