BATTLE CREEK, Mich. — Kellogg Company announced that it has acquired The United Bakers Group, one of Russia's largest cracker, biscuit and breakfast cereal producers.
United Bakers' products, marketed primarily under the Yantar and Lyubyatovo brands, are a strong strategic fit with the Kellogg portfolio. The brands hold number one or number two positions in their respective categories.
Terms of the transaction were not disclosed. With United Bakers' 2007 net sales of approximately $100 million, the transaction is not expected to have a material impact on Kellogg Company's 2008 operating profit.
"Consistent with our strategy, we continue to pursue the right kind of opportunities to grow our business," said David Mackay, president and chief executive officer, Kellogg Company. "The acquisition of United Bakers in Russia is an exciting strategic development for Kellogg. United Bakers is a leading producer of high quality cereals and biscuits, and its existing operations will help us establish a considerable presence in this large and fast-growing market."
Read the full press release here.
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