Kellogg to take $35 million pretax hit on North America unit revamp

Brasil Notícia Notícia

Kellogg to take $35 million pretax hit on North America unit revamp
Brasil Últimas Notícias,Brasil Manchetes
  • 📰 CNBC
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 72%

Kellogg said on Tuesday it would take a pretax charge of about $35 million to restructure its North American business following the sale of its popular Keebler biscuits brand and other assets.

The cereal maker said in November it was exploring options to sell its cookies and fruit snacks units in a bid to sharpen focus on its core segments in North America.

In this photo illustration, Kellogg's Keebler Dark Chocolate Mint Fudge Stripes and Chips Deluxe brand cookies are seen on April 01, 2019 in Miami, Florida.said on Tuesday it would take a pretax charge of about $35 million to restructure its North American business following the sale of its popular Keebler biscuits brand and other assets.

The cereal maker said in November it was exploring options to sell its cookies and fruit snacks units in a bid to sharpen focus on its core segments in North America. Kellogg announced the sale of the Keebler brand along with its fruit-flavored snacks, pie crusts and ice-cream cones businesses to Nutella maker Ferrero for $1.3 billion in April.

The pretax charges include about $20 million of expenses related to employee severance and termination benefits, Kellogg said in a regulatory filing.Last month, the company also said it was reorganizing its European business that would result in charges of about $50 million.The Battle Creek, Michigan-based company reported net sales of $13.55 billion in its last fiscal year with an adjusted operating profit of $1.88 billion.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

CNBC /  🏆 12. in US

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Puerto Rico's oversight board strikes $35 billion restructuring deal with commonwealth's bondholdersPuerto Rico's oversight board strikes $35 billion restructuring deal with commonwealth's bondholdersThe agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general obligation or 'GO' bonds, and a 27% haircut on public authority bonds that carry a constitutional guarantee on payment.
Consulte Mais informação »

This $35 Dress Is Going to Be Your Secret Style Weapon All Summer LongThis $35 Dress Is Going to Be Your Secret Style Weapon All Summer LongThis Under-$30 Dress Is Going to Be Your Secret Style Weapon All Summer Long
Consulte Mais informação »

Puerto Rico Board Unveils $35 Billion Bankruptcy-Exit FrameworkPuerto Rico Board Unveils $35 Billion Bankruptcy-Exit FrameworkPuerto Rico’s financial supervisors struck a deal with creditors owed $3 billion that sets out a path for restructuring $35 billion in debt obligations and scaling back debt payments over the next 30 years.
Consulte Mais informação »

Executive director of Puerto Rico's Oversight Board defends proposed restructuring dealExecutive director of Puerto Rico's Oversight Board defends proposed restructuring dealThe executive director of Puerto Rico's Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico's debt.
Consulte Mais informação »

Puerto Rico's oversight board strikes $35 billion restructuring deal with commonwealth's bondholdersPuerto Rico's oversight board strikes $35 billion restructuring deal with commonwealth's bondholdersThe agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general obligation or 'GO' bonds, and a 27% haircut on public authority bonds that carry a constitutional guarantee on payment.
Consulte Mais informação »



Render Time: 2025-04-02 12:01:32