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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): September 27, 1999
KELLOGG COMPANY
(Exact name of registrant as specified in its charter)
Commission File No.: 1-4171
State of Incorporation: Delaware IRS Employee Indentification 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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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/ Alan Taylor
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Vice President-Corporate Controller
Date: September 27, 1999
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.01 Press Release
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[KELLOGG'S LETTERHAED]
EXHIBIT 99.1
[KELLOGG'S LOGO] NEWS RELEASE
FOR RELEASE: September 27, 1999
CONTACT: Richard E. Lovell
(616) 961-3799
AURORA FOODS INC. TO ACQUIRE LENDER'S BAGELS
FROM KELLOGG COMPANY
BATTLE CREEK, Mich. -- Kellogg Company today announced that it is selling
the Lender's Bagels business to Aurora Foods Inc. for $275 million. The
transaction includes Lender's plants in Mattoon, Illinois, and West Seneca, New
York, and is expected to be completed by November 1, 1999, subject to financing
and other customary closing conditions.
For a limited period of time, Kellogg will supply Aurora with bagels from
the Lender's plants in New Haven and West Haven, Connecticut. Kellogg is
seeking to sell the Connecticut facilities.
Kellogg announced that it expects to record a charge to earnings of
approximately $170 million ($110 million after tax or 27 cents per share) in the
current (third) quarter as a result of the sale. Kellogg plans to report third
quarter results on October 28.
"Lender's is a strong brand, but it has not met our growth expectations,"
said Carlos M. Gutierrez, president and chief executive officer of Kellogg
Company. "This divestiture will enable us to focus our resources on the best
opportunities, both internal and external, to further expand our business."
Kellogg Company, with annual sales of $6.8 billion, is the world's leading
producer of cereal and a leading producer of convenience foods, including
Pop-Tarts toaster pastries, Nutri-Grain and Rice Krispies Treats bars, and Eggo
frozen waffles.
Aurora Foods Inc., with annual sales of approximately $1 billion, is a
diversified food company whose brands include Duncan Hines, Log Cabin, Mrs.
Butterworth's, Van de Kamp's, Mrs. Paul's, Chef's Choice, Aunt Jemima, and
Celeste.
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