Dive Brief:
- Kellogg, looking to win support for its proposed takeover of Egypt's BiscoMisr, unveiled its plans for the company in a press conference over the weekend.
- Among the more notable items: Kellogg pledged not to lay off BiscoMisr workers should it win the bidding war with Abraaj Group of Dubai for control of the snack maker.
- Amr Farghal, Kellogg's vice president for Central and Eastern Europe, the Middle East, and North Africa, also said his company intended to expand BiscoMisr's brands globally.
Dive Insight:
Coming just one week after Kellogg increased its bid for the biscuit and snack maker, the unusual press conference suggests that the cereal maker is fully intent on winning this battle.
And Farghal's discussion of taking BiscoMisr's brands international suggests the reasoning behind Kellogg's interest: the cereal company wants very much to have a breakfast alternative like Mondelez' Belvita.