Kellogg Agrees $1.3 Billion Cookie Sale With Nutella-Maker Ferrero

Kellogg Agrees $1.3 Billion Cookie Sale With Nutella-Maker Ferrero
FILE PHOTO: Jars of Nutella chocolate-hazelnut paste are displayed in a Casino supermarket in Nice, France, January 16, 2017. REUTERS/Eric Gaillard/File Photo
Reuters
Updated:

MILAN—U.S. food group Kellogg Co. has agreed to sell its Keebler biscuits brand and other assets to Nutella maker Ferrero for $1.3 billion as it focuses on its core cereals and snacks businesses.

The deal comes as packaged food companies struggle to adjust to changing consumer tastes and rising demand for low-sugar, healthier items.