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Kellogg to buy $450 million stake in Multipro to grow in Africa

from Bloomberg

Kellogg Co. agreed to buy a 50 percent stake in Nigerian food distributor Multipro for $450 million and is creating a joint venture with Tolaram Africa to help expand on the continent. The Tolaram venture includes an option for Kellogg to buy a stake in the African company in the future, the Battle Creek, Michigan-based foodmaker said in a statement Tuesday. more

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