Ferrero buys Kellogg businesses

The Ferrero Group has paid Kellogg Company $1.3 billion to purchase its selected cookies (including Keebler and Famous Amos), fruit and fruit-flavored snacks, pie crusts and ice cream cones businesses and the assets related to them. In addition, Ferrero is acquiring six Kellogg-owned food manufacturing facilities in Allyn, Washington; Augusta, Georgia; Florence, Kentucky; Louisville, Kentucky; and Chicago, Illinois, as well as a leased facility in Baltimore, Maryland. The deal is expected to close by the end of July, subject to customary closing conditions.