Kellogg to Acquire Majority Stake in Egyptian Biscuit Company
Kellogg Company is to acquire an 85.93% stake in Bisco Misr, the number one packaged biscuits company in Egypt. Headquartered in Cairo, Bisco Misr is a publicly-held company listed on the Egyptian Exchange. One of the most recognized baked goods companies in Egypt, Bisco Misr offers such highly popular brands as Bisco Luxe, Datto, Chico Chico and Bisco Wafers. With approximately 3,300 employees and three manufacturing facilities, Bisco Misr has a strong history in the Egyptian market dating back to 1957.
Kris Charles, Kellogg Company spokeswoman, has confirmed that while Kellogg was excited and delighted about the opportunity to work with such iconic brands in the rapidly growing Egyptian market, it will not offer further details until the final transfer of the shares to Kellogg, expected to be on or around January 18, 2015.
