• The Detroit Free Press reports that Kellogg “plans to buy protein-bar RXBAR for $600 million, a move aimed at adding a new product to appeal to younger customers and boost sales.”
The move is said to be “no surprise as Kellogg tries to diversify its products, acquiring Pringles and other brands, and as millennials - the generation born sometime between the early 1980s and the early 2000s - seem to be losing their appetite for sugary cereal … In 2000, its portfolio was 70% cereal, 20% snacks and 10% frozen foods, according to the company. Now, Kellogg said, its business is about 40% cereal, with more than half of the company's sales in snack foods.”
The move is said to be “no surprise as Kellogg tries to diversify its products, acquiring Pringles and other brands, and as millennials - the generation born sometime between the early 1980s and the early 2000s - seem to be losing their appetite for sugary cereal … In 2000, its portfolio was 70% cereal, 20% snacks and 10% frozen foods, according to the company. Now, Kellogg said, its business is about 40% cereal, with more than half of the company's sales in snack foods.”
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