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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C 20549
_______________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 18, 1996
KELLOGG COMPANY
(Exact name of registrant as specified in its charter)
Commission File No: 1-4171
State of Incorporation: Delaware IRS Employee Identification No: 38-0710690
One Kellogg Square
Battle Creek, MI 49016-3599
(Address of primary executive offices, including zip code)
Registrant's telephone number, including area code: 616/961-2000
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Item 5: Other Events
The Company issued a press release today in the form attached as Exhibit 99.01.
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Item 7: Financial Statements and Exhibits:
(c) Exhibits
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Paper (P) or
Exhibit No. Exhibit Electronic (E)
<S> <C> <C>
99.01 Press Release dated November 18, 1996 E
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KELLOGG COMPANY
By: /s/ John R. Hinton
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(Principal Financial Officer)
Senior Vice President - Administration
Chief Financial Officer
By: /s/ Alan Taylor
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(Principal Accounting Officer)
Vice President and Corporate Controller
Date: November 18, 1996
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EXHIBIT INDEX
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Exhibit
No. Description Page
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99.01 Press Release dated November 18, 1996
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Exhibit 99.01
November 18, 1996
Richard E. Lovell Kathy Knuth
Kellogg Company Kraft Foods, Inc.
(616) 961-3799 (847) 646-2666
KELLOGG COMPANY TO ACQUIRE LENDER'S BAGELS FROM
KRAFT FOODS, INC.
BATTLE CREEK, MI -- Kellogg Company and Kraft Foods, Inc. announced
today an agreement for Kellogg to acquire the Lender's(R) Bagels business from
Kraft for $455 million. The transaction, expected to be completed by year-end,
includes Lender's plants in West Haven/New Haven, Connecticut; Mattoon,
Illinois; and Buffalo, New York.
Lender's, based in White Plains, New York, is the nation's leading
manufacturer and marketer of frozen, refrigerated, and fresh bagels with annual
sales of $275 million.
"Lender's Bagels is a perfect fit for Kellogg Company's fast-growing
convenience foods business," said Arnold G. Langbo, Kellogg Company chairman of
the board and chief executive officer.
"With our heritage based in nutrition and our technical competence in
grain-based food products, adding the nation's number one brand in bagels to
our number one positions in toaster pastries (Kellogg's(R) Pop-Tarts(R)),
frozen waffles (Eggo(R)), and cereal bars (Kellogg's(R) Nutri-Grain(R) and
Kellogg's(R) Rice Krispies Treats(TM) squares) offers substantial new
opportunities to grow our business," Langbo said.
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"Lender's is a strong franchise, but it does not fit with our long-term
strategic direction. The sale of Lender's completes our exit from the bakery
category and will allow us to concentrate our resources more effectively on our
core businesses," said Robert S. Morrison, chairman and chief executive officer
of Kraft.
Kraft Foods, Inc., headquartered in Northfield, Illinois, is the
multinational food business of Philip Morris Companies Inc., and is the
nation's largest packaged food company with revenues of $16 billion.
Kellogg Company, headquartered in Battle Creek, Michigan, is the world's
leading producer of ready-to-eat cereal and a leader in grain-based convenience
foods with revenues of $7 billion.
