Kellogg to expand in Australia with Specialty Cereals purchase
Kellogg’s Australia has announced that it is to acquire Specialty Cereals, an Australian cereal and snacks manufacturer – subject to regulatory approval.
The world’s leading cereal maker has had a relationship with Specialty Cereals for two decades with regard to manufacturing and packaging, and view the acquisition as an opportunity to expand their ‘health and wellness’ and ‘natural’ product lines.
Specialty Cereals was founded in 1988 and was one of the first suppliers of oat bran to the food industry during the period of 1988-1990 when demand skyrocketed. They initially began as a specialty provider of legumes, grains and pulses and are now the owners of the Vogel’s, Wild Oats and Cerevite cereal and snack brands.
The ACCC commenced their review earlier this week but, given that they are not proposing formal market inquiries, the takeover appears set to get the green light from the competition watchdog.
The ACCC will accept submissions from interested parties until August 19, with a formal announcement to be made on August 25.