Article Date 16/05/2018

Image from : Alimentos Kellogg S.A.

Kellogg ceases business activities in Venezuela

Source Food Business News

The Kellogg Co. on May 15 announced it is discontinuing its operations in Venezuela (Alimentos Kellogg S.A.), effective immediately. Kellogg operates a facility in Maracay, Venezuela, that employs approximately 300 people. 

“In December of 2016, Kellogg deconsolidated its Venezuela business from the company’s results,” Kellogg noted in an emailed statement. “The current economic and social deterioration in the country has now prompted the company to discontinue operations. All assets, contractual obligations and legal guarantees have been settled with Kellogg’s employees, suppliers and customers in Venezuela.”

Kellogg said product distribution in Venezuela has been suspended and the license agreement for the use and commercialization of its brands and characters in Venezuela has been terminated.

Kellogg has had a presence in Venezuela since 1961, and the market is its second largest in Latin America after Mexico.

Read the full article