FDBusiness.com

Kellogg Company Expands Presence in Africa With $450 Million Deal

 Breaking News
  • Irish Supermarkets Benefit From the Christmas Spirit The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 31 December 2017, reveal that shoppers spent an extra €90 million on groceries over the festive period. David Berry, director at Kantar Worldpanel, comments: “Over the Christmas period the average household spent a record €1,532 on groceries – an increase of [...]...
  • Britvic Continues to Put Health at the Heart of its New Sustainable Business Programme Britvic has launched ‘A Healthier Everyday’, its new sustainable business programme which builds on its commitment to: help consumers make healthier choices; support the well-being of communities; and minimise its impact on the planet. The creation of ‘A Healthier Everyday’ follows a review by the company into how it can ensure that its sustainability programme is [...]...
  • Bayn Europe Sets Up Chinese Subsidiary For Sugar Reduction Bayn Europe AB has signed a joint venture agreement with real estate development company HuaHe International Asset Management to introduce sugar reduction to the China market. Both partners agreed on a co-operation model and mutual commitments for the set up of joint venture. Bayn will hold 65% of equity and HuaHe will hold 35%. Further to [...]...
  • Ishida X-ray Flexibility Ensures Premium Product Quality Ishida X-ray inspection technology is helping to maintain the premium quality reputation of one of Russia’s most popular traditional snack brands. The ‘ROSTRAGROEXPORT’ company was founded by Mr Boris Aleksandrov in 1995, who spotted a niche in the Russian food market for a good quality traditional curd snack.  Its ‘B.Y. Aleksandrov’ brand, named after the company’s [...]...
  • ‘Latte Levy’ – Coffee Drinkers Want to Go Green, But Price is a Barrier As the UK Government aims to eliminate avoidable waste with the announcement of its 25-Year Environmental Plan, Mintel research reveals that Britain’s coffee shop drinkers are happy to do their bit for the environment, but not at any cost. 40% of out of home hot drinks consumers wouldn’t mind paying extra for drinks served in 100% [...]...

Kellogg Company Expands Presence in Africa With $450 Million Deal

Kellogg Company Expands Presence in Africa With $450 Million Deal
September 16
10:05 2015

Kellogg Company has agreed to acquire a 50% stake in Multipro, a premier sales and distribution company in Nigeria and Ghana, for about $450 million and has simultaneously formed a new, long-term partnership with leading food company Tolaram Africa, significantly increasing Kellogg’s presence in the growing African market and advancing the company’s breakfast, snacks and emerging market strategies to drive future growth.

The joint venture between Kellogg and Tolaram Africa will develop snacks and breakfast foods for the West African market. Kellogg also now has the right to acquire a stake in Tolaram Africa Foods (which owns 49% of Dufil Prima) in the future. Dufil Prima manufactures and markets several leading food brands, including Indomie noodles, which are often consumed at breakfast, as well as Minimie snacks, Power oil and Power pasta.

John Bryant, chairman and chief executive of Kellogg Company.

John Bryant, chairman and chief executive of Kellogg Company.

“As a region that is experiencing explosive growth, with a population of almost one billion people and an economy that is expected to more than double over the next 10 years, Sub-Saharan Africa provides tremendous opportunity for our company,” explains John Bryant, chairman and chief executive of Kellogg Company. “Tolaram Africa has built a highly successful consumer products business and today, it is one of the largest food companies in Nigeria. Tolaram has a great track record of building beloved consumer brands, including the market leader Indomie noodles, and fueling their growth. This partnership is an excellent strategic fit for Kellogg.”

Established in 1997, Multipro has a strong sales and distribution infrastructure in Nigeria. It is also establishing similar networks in other key African countries including Democratic Republic of Congo, Ivory Coast, Cameroon and Ethiopia. The purchase price represents a multiple of 13 times Multipro’s expected EBITDA for 2015. The final purchase price is dependent on actual results for EBITDA in 2015.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Anfas Food Product
  • January 17, 2018Dutch Organic Trade Fair
  • January 19, 2018International Green Week
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements