Kellogg acquires assets of ZhengHang Food

摘要

Kellogg Co. announced recently that it has acquired substantially all of the assets of ZhengHang Food Company Ltd. (known also as Navigable Foods), a manufacturer of cookies and crackers in the northern and northeastern regions of China. Terms of the transaction were not disclosed. Navigable Foods' 2007 net sales were approximately $50 million. Founded in 1993, Navigable Foods is one of the major biscuit manufacturers in China, with a variety of cookie and cracker products under the ZhengHang brand. Navigable Foods' approximately 1,800 employees, including the company's management team, will join Kellogg Co. The acquisition includes two manufacturing facilities located in Yishui county, Shandong province, and Fushun city, Liaoning province, as well as the company's sales and distribution network.