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Flowers plans sale of Keebler

Published on .

Flowers Industries, Thomasville, Ga., in essence put Keebler Foods Co. up for sale July 18 when it announced plans to "explore alternatives for the maximation of shareholder value," according to a statement by both companies. Flowers, Keebler's largest shareholder with a 55% stake, said it has hired Morgan Stanley Dean Witter & Co. and UBS Warburg to assist in the review. Furthermore, Flowers also announced plans to spin off its non-Keebler assets, among them Flowers bakeries and Mrs. Smith's Bakeries businesses. Leo Burnett USA, Chicago, handles advertising for Keebler brands, among them Cheez-It and Keebler; Decker, Glastonbury, Conn., handles Carr's crackers. Keebler spent $20 million on measured media in 1999, per Competitive Media Reporting. Ogilvy & Mather, Atlanta, handles non-Keebler brands for Flowers Industries, among them Mrs. Smith's Bakeries.

Copyright July 2000, Crain Communications Inc.

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