Kellogg Acquiring Diamond Foods?
CBJ — It looks as if Diamond Foods could soon be sold to Kellogg for more than $1.5 billion. Kellogg, the makers of Corn Flakes cereal among many other food products, is apparently in late-stage negotiations to seal a deal although neither side is offering comment.
According to one report, Kellogg could pay as much as $40 per share.
Diamond Foods was founded in 1912 in California as Diamond Walnut Growers and it still specializes in marketing nuts. Its brands include: Kettle Brand chips, Emerald snack nuts and Pop Secret popcorn.
Kellogg was founded in Michigan in 1906 and its headquarters remain there. The Canadian head office is in Mississauga.
Besides Corn Flakes, some of the other marquee brands made by Kellogg’s include: Froot Loops, Frosted Flakes, Rice Krispies, Special K, Cocoa Krispies, Keebler, Pringles and Pop-Tarts.