Kellogg Acquisition Builds Snack Business
Kellogg Company acquires the assets of IndyBake Products LLC and Brownie Products Co., a privately-held contract manufacturing business that produces cracker, cookie and frozen dough products. Two manufacturing facilities, located in Seelyville, Ind., and Gardner, Ill., will be integrated into Kellogg's U.S. Snacks manufacturing network.
"Expanding our snacks business is a key element of Kellogg's business strategy and commitment to driving sustainable growth," says David Mackay, president and chief executive officer, Kellogg Company. "This acquisition will help us expand our capacity to manufacture existing and proprietary snacks products as well as enable new product innovations."
IndyBake Products and Brownie Products has been a partner to Kellogg for many years as a snacks contract manufacturer. Approximately 150 IndyBake Products and Brownie Products employees joined Kellogg upon closing. Terms of the transaction were not disclosed. Combined revenues for IndyBake Products and Brownie Products were approximately $50 million in 2007.
"Expanding our snacks business is a key element of Kellogg's business strategy and commitment to driving sustainable growth," says David Mackay, president and chief executive officer, Kellogg Company. "This acquisition will help us expand our capacity to manufacture existing and proprietary snacks products as well as enable new product innovations."
IndyBake Products and Brownie Products has been a partner to Kellogg for many years as a snacks contract manufacturer. Approximately 150 IndyBake Products and Brownie Products employees joined Kellogg upon closing. Terms of the transaction were not disclosed. Combined revenues for IndyBake Products and Brownie Products were approximately $50 million in 2007.
