Kellogg Company's $450 million acquistion of a 50% stake in Multipro Consumer Products

Overview:

• The Kellogg Company agreed to purchase a 50% stake in Nigeria based Multipro Consumer Products for $450 million. 
• Kellogg's acquired the stake from Singapore based Tolaram Group, who have agreed to enter into a joint venture partnership with the cereal company.
• The American company also gained the option to purchase a stake in the group's African outfit.
• Sub-Saharan Africa is seen as a huge market in the cereal industry as more traditional consumers move away from processed breakfasts.

 John Crabb - Journalist