date:Apr 23, 2014
re particularly weak in 2013, generating low single-digit top-line declines. Improving these businesses, including Kellogg master brand category building programs, is a key near-term priority.
Fitch also commented on Kelloggs integration of Pringles, which is nearly complete. The May 2012 acquisition has provided Kellogg with a stronger snacks platform for product and geographic expansion, but brought lower margins, Fitch said.
Pringles provided high single-digit internal net sales growth in 2