Terms of the transaction were not disclosed. With Specialty Cereals' net sales of approximately $17 million for the 2007/2008 Australian financial year, 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 Specialty Cereals provides Kellogg Australia with an entry into the fast-growing Natural Foods segment."