Kellogg's Buys Temmy's After Acquiring BiscoMisr
It's a cereal invasion as the household name continues to expand its presence in Egypt and the Middle East, announcing today its purchase of Mass Food Group, the company behind Temmy's.
After acquiring a majority share in Egypt's BiscoMisr earlier this year, the Kellogg company continues its emerging markets expansion, buying out Temmy's maker Mass Food Group for $50 million in cash as announced today. With this purchase, the American company has pretty much monopolised the cereal and breakfast snacks industry in Egypt, as they aim to develop the surrounding markets in the Middle East and West Africa with manufacturing in and exporting out of Egypt.
Does this mean we'll stop having to pay extortionate amounts for our favourite Kellogg's brand cereals? Only time will tell.
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