Kellogg might be selling off some of its cookie and fruit snack businesses.
On Monday, the company revealed that it is exploring a sale of brands like Famous Amos, Keebler cookies, Mother's and Murray cookies, and Stretch Island fruit snacks. “We need to make strategic choices about our business and these brands have had difficulty competing for resources and investments within our portfolio,” Chairman and CEO Steve Cahillane said in a statement. “Yet, we wholeheartedly believe these iconic and beloved brands can thrive in the portfolio of another organization that can focus on driving growth in these particular categories.”
The Special K cereal maker wants to instead focus on its core areas such as its frozen foods, morning foods and snacks that generate the majority of its revenues. The company also indicated on Monday that it wants to improve its online retail segment and invest more in the e-commerce space –strategies that might require a reshuffle of its workforce in North America.