REFILE-Kellogg in JV with Wilmar to expand in China
Sept 24 (Reuters) - Kellogg Co said it entered into a partnership with Singapore-based palm oil producer Wilmar International to manufacture and sell cereal and other snacks in China.
Kellogg said Wilmar will contribute infrastructure, supply chain scale and its sales and distribution network to the 50-50 joint venture, which will market Kellogg's and Pringles branded product.
In a statement, the U.S. maker of such products as Eggo waffles and Keebler cookies said it expects China to become the largest food and beverage market globally within the next five years.
Kellogg's shares closed at $51.45 on Friday on the New York Stock Exchange.
- Man called Bitcoin's father denies ties, leads LA car chase
- Apple loses bid for U.S. ban on Samsung smartphone sales
- Putin rebuffs Obama as Ukraine crisis escalates |
- Florida mayor fights backyard gun ranges in 'Gunshine State'
- UPDATE 6-Obama warns on Crimea, orders sanctions over Russian moves in Ukraine