Kellogg eyes sale of cookie, fruit snack brands
Kellogg Company is considering the sale of its fruit snack and cookie brands as it looks to refocus on its core businesses.
The company announced on Monday that it is exploring the sale of such cookie brands as Keebler, Famous Amos, Mother’s and Murray.
“We need to make strategic choices about our business, and these brands have had difficulty competing for resources and investments within our portfolio,” CEO and Chairman Steve Cahillane said in a press release. “Yet, we wholeheartedly believe these iconic and beloved brands can thrive in the portfolio of another organization that can focus on driving growth in these particular categories.”
The company said it also plans next year to restructure its North American business organization. That includes consolidating some of its business units into a single organization that would account for 80 percent of North American revenue.
More details are expected Tuesday during an event for analysts and investors. The event will be available via webcast at https://investor.kelloggs.com
Jeff Himler is a Tribune-Review staff writer. You can contact Jeff at 724-836-6622, email@example.com or via Twitter @jhimler_news.