This morning’s news that Kellogg is selling its Famous Amos and Keebler divisions to Ferro Group for $1.3 billion is the latest development in Kellogg’s ongoing effort to jettison many of its nonessential brands in order to focus on proven performers like Pringles.
As Kellogg CEO Steve Cahillane put it, the divestiture is “yet another action we have taken to reshape and focus our portfolio,” adding that giving the Keebler elves their walking papers “wasn’t an easy decision.”
Meanwhile, snapping up the famous Famous Amos and Keebler’s milk chocolate mammoths like Fudge Stripe cookies seems like it was a very easy decision for Ferrero Group—or, if not exactly easy, then entirely congruent.
“We are acquiring a portfolio of well-established brands that consumers love, with very strong market positions across their respective categories,” Ferrero Group CEO Lapo Civiletti said, “allowing us to significantly diversify our portfolio and capitalize on exciting new growth opportunities in the world’s largest cookie market.”
Actually, we can’t be sure if Civiletti said that or his publicist did.
Because Ferrero Group is the black box of the confectionery segment, a private, family-owned firm not much given to public pronouncements, or public anything.