Ferrero’s $1.3 Billion Acquisition Of Kellogg’s Cookie, Fruit Snack, Ice Cream Cone And Pie Crust Businesses

Davis Polk is advising The Ferrero Group on its $1.3 billion acquisition of Kellogg Company’s cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the third quarter of 2019.

Founded as a family business in Alba, Italy in 1946, Ferrero is a company in the global chocolate confectionary market, with brands that include Nutella, Kinder, Ferrero Rocher and Tic Tac. Ferrero will acquire strong portfolio of beloved brands in the cookie category, including the iconic cookie brand Keebler, top selling on-the-go Famous Amos cookies, the premium family cookie brand Mother’s, and Murray sugar free cookies, as well as Little Brownie Bakers, supplier of cookies to the Girl Scouts. Ferrero will also acquire the Kellogg fruit snacks business, including Stretch Island and Fruity Snacks along with Keebler’s ice cream cones and pie crust products.

The Davis Polk corporate team includes partners John A. Bick (Picture) and Daniel Brass and associates Reid B. Fitzgerald and Erin E. Brinig. The intellectual property and technology team includes partner Frank J. Azzopardi and associates Bonnie Chen and Christopher C. Woller. The executive compensation team includes partner Jean M. McLoughlin and counsel David Mollo-Christensen. Partner David H. Schnabel is providing tax advice.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; John Bick – Davis Polk & Wardwell; Daniel Brass – Davis Polk & Wardwell; Erin Brinig – Davis Polk & Wardwell; Bonnie Chen – Davis Polk & Wardwell; Reid Fitzgerald – Davis Polk & Wardwell; Jean M. McLoughlin – Davis Polk & Wardwell; David Mollo-Christensen – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Ferrero;

Author: Ambrogio Visconti