Kellogg Co said the divestiture of its cookie and fruit snack businesses is resulting in $35m in pretax charges, $20m of which are related to employee severance and termination benefits.
Ferrero has edged out Hostess to capture the cereal giant’s cookie, fruit snacks and ice cream cone family of brands, including Famous Amos, Murray’s and the Girl Scouts of the USA brand Little Brownie Bakers, plus Stretch Island and Fruity Snacks.