Kellogg Company Completes Acquisition of Majority Stake in Egyptian Biscuits Company
Kellogg Company has acquired a majority 86% stake in Bisco Misr, the number one packaged biscuits company in Egypt, for $125 million. The transaction advances Kellogg’s global snacks business in growing emerging markets.
“Bisco Misr is an excellent strategic fit for Kellogg, and Egypt is a growing market with a strong economy,” says John Bryant (pictured), chairman and chief executive of Kellogg Company. “A number of Kellogg’s cereals and snacks are already offered in the market and the combination of the powerful Bisco Misr brands with Kellogg’s iconic brands provides a tremendous opportunity for growth.”
Headquartered in Cairo, Bisco Misr is a publicly-held company listed on the Egyptian Exchange. One of the most recognised baked goods companies in Egypt, Bisco Misr offers such highly popular brands as Bisco Luxe, Chico Chico and Bisco Wafers. With approximately 3,300 employees and three manufacturing facilities, Bisco Misr has a strong history in the Egyptian market dating back to 1957.
Bisco Misr’s manufacturing capabilities, skilled labor and go-to-market infrastructure, coupled with Kellogg’s technology, iconic brands and marketing expertise, will enable both to emerge stronger in Egypt and other North African countries.
