Kellogg’s cookie brands are on the auction block and are drawing interest from Hostess Brands, Ferrero and B&G Foods.
Kellogg’s cookie brands are on the auction block and are drawing interest from Hostess Brands, Ferrero and B&G Foods, according to a report by CNBC.
Quoting anonymous sources, CNBC said that the Kellogg brands, which include Keebler, Famous Amos and fruit snacks, could draw more than $1.5 billion in a sale.
Kellogg is joining other giant food processors, like Kraft Heinz, that are paring what are seen as ancillary brands in an effort to focus on core businesses.
A Kellogg spokesperson confirmed to CNBC that Kellogg is considering divesting the cookie brands, as well as its ice-cream cone and pie shell businesses.
