Kellogg looks to sell off Famous Amos and Keebler
NEW YORK (CNN Business) – Kellogg may say goodbye to Famous Amos and Keebler cookies.
According to CNN.com, the cereal maker said Monday that it is exploring a sale of its cookie and fruit snack businesses so it can focus on “core” parts of the company.
“These brands have had difficulty competing for resources and investments within our portfolio,” said CEO Steve Cahillane in a statement. “These changes will make Kellogg more agile and better focused on growing demand for our foods.”
The company is looking to sell off several brands, according to Kris Bahner, Kellogg’s Senior Vice President of Global Corporate Affairs. These brands include Mother’s and Murray cookies, as well as Little Brownie Bakers, a division that bakes several popular Girl Scout cookies. Kellogg’s Fruity Snacks and Stretch Island fruit snacks are also on the list.
CNN reports, at a consumer conference earlier this year, Cahillane singled out the company’s other products — including Cheez-Its, Club Crackers, Rice Krispies Treats and Pringles — as its “power brands.”
The company said it would share more details during an event for analysts and investors on Tuesday.