Kellogg , Wilmar Announce China Joint Venture
Kellogg Company (NYSE: K) and Wilmar International today announced a 50:50 joint venture between Kellogg and Wilmar for the manufacture, sale and distribution of cereal, wholesome snacks and savory snacks in China. Wilmar's wholly-owned subsidiary in China, Yihai Kerry Investments Co., Ltd, will participate in the joint venture.
Wilmar will contribute infrastructure, supply chain scale, an extensive sales and distribution network in China, as well as local China market expertise to the joint venture. Kellogg will contribute a portfolio of globally recognized brands and products, along with deep cereal and snacks category expertise. The Joint Venture will use the Kellogg's® and Pringles® brands. Together, Kellogg and Wilmar will leverage this complementary expertise to maximize marketing and manufacturing synergies.