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Report:Kellogg May Sell Famous Amos Brands Keebler To Ferrero For Up To $1.5 Bln

Kellogg Co. (K) is near a deal to sell its Keebler, Famous Amos and fruit snacks units to Ferrero in a deal worth between $1 billion and $1.5 billion, CNBC reported.

Italy-based Ferrero owns Nutella and bought Nestle's U.S. candy business in January 2018.

Kellogg has been looking to sell some of its snack-food brands for months as it looks to refocus on its core products. Ferrero beat out Hostess Brands for the cookie brands, CNBC said, and a deal may be announced as soon as Monday.

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