ROANOKE TIMES Copyright (c) 1996, Roanoke Times DATE: Tuesday, November 19, 1996 TAG: 9611190086 SECTION: BUSINESS PAGE: B-5 EDITION: METRO DATELINE: DETROIT
Kellogg Co., baker of Eggo frozen waffles and purveyor of Frosted Flakes and Rice Krispies, said Monday it would claim another spot on the breakfast table with the purchase of Lender's Bagels from Kraft Foods Inc.
Arnold Langbo, Kellogg's chairman and chief executive, said the $455 million purchase fits Kellogg's fast-growing business selling waffles, Pop-Tarts and Nutri-Grain bars.
Lender's is the nation's biggest bagel maker, with annual sales of $275 million. Kraft sold its other bakery businesses more than a year ago to CPC International Inc. for $865 million. They included Entenmann's baked goods, Freihofer's bread and Boboli pizza crusts.
- Associated Press
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