Kellogg bringing "Tony the Tiger" to China
File / HENNY RAY ABRAMS/AFP/Getty Images
(AP) NEW YORK - Kellogg (K) wants more people in China wake up to a bowl of its cereal.
The maker of Frosted Flakes and Eggo waffles says that it formed a joint venture to sell its cereals and snacks in the country. The breakfast giant says the deal will tap Wilmar International's infrastructure and local expertise in China. Wilmar is a unit of Yihai Kerry Investments Co. Ltd.
Kellogg Co. notes that China is expected to be the largest food and beverage market within the next five years, given its rapidly growing middle class. The company says cereal consumption is being fueled by milk consumption.
The Battle Creek, Mich.-based company also plans to sell its Pringles chips in China. Kellogg acquired Pringles earlier this year to expand into savory snacks.
Popular on MoneyWatch
- When it comes to vacations, the U.S. stinks
- Reverse cell phone lookup service is free and simple
- Snapple co-founder Leonard Marsh dies at 80
- Amy's Baking Company could face legal 'nightmare'
- TGI Fridays nailed for doctoring booze
- Kate and Will: Nurseries fit for royalty
- Amy's Baking Company: Post-meltdown PR campaign
- Ellen DeGeneres buys Brad Pitt's Malibu home