Kellogg Co. said it purchased the assets of IndyBake Products LLC and Brownie Products Co., a private contract manufacturing business that produces cracker, cookie and frozen dough products. Terms were not disclosed. Combined revenues for the two operations were about $50 million in 2007, officials said.
"Expanding our snacks business is a key element of Kellogg's business strategy and commitment to driving sustainable growth," said David Mackay, Kellogg president and chief executive officer. "This acquisition will help us expand our capacity to manufacture existing and proprietary snacks products as well as enable new product innovations.
Kellogg said it will integrate the business' two manufacturing facilities in Seelyville, Ind., and Gardner, Ill., into Kellogg's U.S. Snacks network. Kellogg noted that the two operations have worked with Kellogg for several years on a contract basis. Approximately 150 IndyBake and Brownie Products employees joined Kellogg upon the deal's closing.
Kellogg acquires frozen bakery biz
September 4, 2008