April 1 (UPI) -- Food maker Kellogg's said Monday it's selling off several brands to the Ferrero Group in a deal worth more than $1 billion.
The Kellogg Company will sell Keebler Cookies, Mothers, Famous Amos and Murray's and Murray's Sugar Free. The maker of Girl Scout cookies will also be sold to Ferrero, the company said.
The $1.3 billion sale also gives Ferrero Kellogg's production facilities in Chicago, Augusta, Ga., Florence, Ky., Louisville, Ky., Allyn, Wash.
Together, the brands posted net sales last year of nearly $900 million and an operating profit of $75 million, the company said.
"Divesting these great brands wasn't an easy decision, but we are pleased that they are transitioning to an outstanding company with a portfolio in which they will receive the focus and resources to grow," Kellogg's CEO Steve Cahillane said in a statement Monday.
Under the deal, Kellogg's will keep the rest of its snack brands.
