Kellogg Company Acquires Egypt's Mass Food Group
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Kellogg Company continues to scoop up international brands to widen its global market presence, most notably its acquisition ofPringles in February 2012 for US$2.7 billion. This time, it acquired Egypt’s Mass Food Group in $50 million deal. According to its website, Mass Food Group, a family business run by the El Bahays, was founded 18 years ago. The company has since expanded to other markets in the MENA region, Asia, and Australia with its Temmy brand, exporting to “over 45 markets.” With such a large market share, Kellogg claims that the buyout won’t have an impact on its annual profit and net earnings this year.