Cereal king Kellogg Co., Battle Creek, Mich., announced today it was buying Lender's Bagels from Kraft Inc. for $455 million. The company said Lender's, the $275 million marketer of frozen, refrigerated and fresh bagels, would help expand the company's growing variety in breakfast foods; Kellogg already competes in toaster pastries, waffles and cereal bars. Kraft has already made known its intentions to exit the baked goods category, having sold its Entenmann's franchise to CPC International earlier this year. Lender's' current agency, J. Walter Thompson USA, New York, is already a Kellogg roster agency.
Copyright November 1996, Crain Communications Inc.