Kellogg Gets IndyBake
Terms of the transaction were not disclosed. Combined revenues for IndyBake Products and Brownie Products were approximately $50 million in 2007.
"Expanding our snacks business is a key element of Kellogg's business strategy and commitment to driving sustainable growth," said David Mackay, president and chief executive officer, Kellogg Company. "This acquisition will help us expand our capacity to manufacture existing and proprietary snacks products as well as enable new product innovations."
IndyBake Products and Brownie Products have been a partner to Kellogg for many years as a snacks contract manufacturer. Approximately 150 IndyBake Products and Brownie Products employees joined Kellogg upon the close of the deal.
From the September 15, 2008, Prepared Foods e-Flash