Kellogg Company Report

Kellogg Company

Company Profile Publication Date: 8 Sep 2010

www.datamonitor.com Europe, Middle East & Africa 119 Farringdon Road London EC1R 3DA United Kingdom

Americas 245 5th Avenue 4th Floor New York, NY 10016 USA

Asia Pacific Level 46 2 Park Street Sydney, NSW 2000 Australia

t: +44 20 7551 9000 f: +44 20 7551 9090 e: [email protected]

t: +1 212 686 7400 f: +1 212 686 2626 e: [email protected]

t: +61 2 8705 6900 f: +61 2 8088 7405 e: [email protected]

Kellogg Company

ABOUT DATAMONITOR Datamonitor is a leading business information company specializing in industry analysis. Through its proprietary databases and wealth of expertise, Datamonitor provides clients with unbiased expert analysis and in depth forecasts for six industry sectors: Healthcare, Technology, Automotive, Energy, Consumer Markets, and Financial Services. The company also advises clients on the impact that new technology and eCommerce will have on their businesses. Datamonitor maintains its headquarters in London, and regional offices in New York, Frankfurt, and Hong Kong. The company serves the world's largest 5000 companies. Datamonitor's premium reports are based on primary research with industry panels and consumers. We gather information on market segmentation, market growth and pricing, competitors and products. Our experts then interpret this data to produce detailed forecasts and actionable recommendations, helping you create new business opportunities and ideas. Our series of company, industry and country profiles complements our premium products, providing top-level information on 10,000 companies, 2,500 industries and 50 countries. While they do not contain the highly detailed breakdowns found in premium reports, profiles give you the most important qualitative and quantitative summary information you need - including predictions and forecasts.

All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, Datamonitor plc. The facts of this profile are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that Datamonitor delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such Datamonitor can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

Kellogg Company © Datamonitor

Page 2

Kellogg Company TABLE OF CONTENTS

TABLE OF CONTENTS Company Overview..............................................................................................4 Key Facts...............................................................................................................4 Business Description...........................................................................................5 History...................................................................................................................6 Key Employees.....................................................................................................8 Key Employee Biographies................................................................................10 Major Products and Services............................................................................18 Revenue Analysis...............................................................................................19 SWOT Analysis...................................................................................................20 Top Competitors.................................................................................................26 Company View.....................................................................................................27 Locations and Subsidiaries...............................................................................31

Kellogg Company © Datamonitor

Page 3

Kellogg Company Company Overview

COMPANY OVERVIEW Kellogg Company (Kellogg) is an American multinational producer of breakfast foods, snack foods, cookies, and crackers. The company also manufactures and markets ready-to-eat cereals and convenience foods such as toaster pastries, cereal bars, fruit snacks, frozen waffles and veggie foods. The company is headquartered in Battle Creek, Michigan and employs 30,900 people. The company recorded revenues of $12,575 million during the financial year ended December 2009 (FY2009), a decrease of 1.9% compared with 2008. The decline was driven by a negative impact from foreign currency translation and an extra shipping week in 2008. The operating profit of the company was $2,001 million in FY2009, an increase of 2.5% over 2008. The net profit was $1,212 million in FY2009, an increase of 5.6% over 2008.

KEY FACTS Head Office

Kellogg Company One Kellogg Square Battle Creek Michigan 49016 3599 USA

Phone

1 269 961 2000

Fax

1 269 961 2871

Web Address

http://www.kelloggcompany.com

Revenue / turnover 12,575.0 (USD Mn) Financial Year End

December

Employees

30,900

New York Stock Exchange Ticker

K

Kellogg Company © Datamonitor

Page 4

Kellogg Company Business Description

BUSINESS DESCRIPTION Kellogg Company (Kellogg) along with its subsidiaries is engaged in the manufacture and marketing of ready-to-eat cereals and convenience foods such as cookies, crackers, toaster pastries, cereal bars, frozen waffles and meat alternatives. These products are manufactured by the company in 18 countries and marketed in more than 180 countries worldwide. The company’s brands include Kellogg’s, Keebler, Pop-Tarts, Eggo, Cheez-It, All-Bran, Mini-Wheats, Nutri-Grain, Rice Krispies, Special K, Chips Deluxe, Famous Amos, Sandies, Austin, Club, Murray, Kashi, Bear Naked, Morningstar Farm, Gardenburger and Stretch Island. Kellogg operates through four geographic segments: North America, Europe, Latin America, and Asia Pacific. The company’s cereal products are marketed under the Kellogg's brand, and are sold primarily to the grocery trade through direct sales force. The company uses broker and distribution arrangements for certain products in less-developed market areas. The company markets cookies, crackers, and other convenience foods, under brands such as Kellogg's, Keebler, Cheez-It, Murray, Austin and Famous Amos, to supermarkets in the US through a direct store-door (DSD) delivery system. Kellogg also offers Special K2O flavored water and flavored protein water mixes. The company's trademarks include logos and depictions of certain animated characters in conjunction with its products, including Snap!Crackle!Pop! for Cocoa Krispies and Rice Krispies cereals and Rice Krispies Treats convenience foods; Tony the Tiger for Kellogg's Frosted Flakes, Zucaritas, Sucrilhos and Frosties cereals and convenience foods; Ernie Keebler for cookies, convenience foods and other products; the Hollow Tree logo for certain convenience foods; Toucan Sam for Froot Loops; Dig 'Em for Smacks; Coco the Monkey for Coco Pops; Cornelius for Kellogg's Corn Flakes; Melvin the elephant for certain cereal and convenience foods; Chocos the Bear, Kobi the Bear and Sammy the Seal for certain cereal products. The company's research to support and expand the use of its existing products and to develop new food products are carried out from the W. K. Kellogg Institute for Food and Nutrition Research in Battle Creek, Michigan, and at other locations around the world.

Kellogg Company © Datamonitor

Page 5

Kellogg Company History

HISTORY Kellogg Company (Kellogg) was founded in 1906 as the Battle Creek Toasted Corn Flakes Company. The company changed its name to Kellogg Company (Kellogg) in 1922 after it began making cereals other than cornflakes. In 1964, Kellogg began to diversify with the introduction of the Pop-Tart and the acquisition of Salada Foods, which introduced tea and desserts to its product line. Kellogg then acquired Eggo waffles in the 1970s, along with Fearn International, makers of soups, sauces, and other foods. In 1976, Kellogg acquired Mrs Smith's Pie Company and Pure Packed Foods in 1977. During the same time, the company began a restructuring program with the formation of the US Convenience Foods Division. Kellogg also began production of a new cereal line in conjunction with ConAgra, under the Healthy Choice label. The company's operations expanded into Australia, the UK, Asia and Latin America during 1997 and 1998. In 2000, the company added natural cereal and convenience food maker Kashi to its US cereal division. In 2001, the company acquired Keebler Foods, engaged in the production of a broad line of cookie and cracker products and a number of other consumer food products such as Cheez-It and Carr's. Kellogg formed a multi-year global relationship with Disney in 2002. In the same year, the company entered into a strategic alliance with Roskam Baking. The company relocated its US Snacks business unit from Elmhurst, Illinois to Battle Creek, Michigan in 2004. Kellogg acquired Kraft's fruit snacks operation during 2005. During 2006, Kellogg extended its Special K product line into the diet and nutrition sections of grocery and drug stores with the launch of three protein-fortified products. These were the first products to come from the company's new health and wellness division. In the same year, the company introduced Kellogg's Crunchy Nut sweet and salty granola bars. Kellogg entered the fast-growing trail-mix granola bar category with the launch of new Nutri-Grain fruit and nut bars, in 2007. In the same year, the company acquired Wholesome & Hearty Foods Company, the US manufacturer of vegetarian foods marketed under the Gardenburger brand. In 2008, the company acquired The United Bakers Group, one of Russia's largest cracker, biscuit and breakfast cereal producers. During the same year, one of Kellogg's majority-owned subsidiaries acquired substantially all of the assets of Zhenghang Food Company (Navigable Foods), a manufacturer of cookies and crackers in the north and northeastern regions of China. Kellogg, in 2008, acquired the assets of IndyBake Products and Brownie Products, a privately held contract manufacturing business that produces cracker, cookie and frozen dough products. In the same year, the company acquired Specialty Cereals, a privately owned manufacturer of natural ready-to-eat cereals based in Sydney, Australia.

Kellogg Company © Datamonitor

Page 6

Kellogg Company History

In January 2009, Kellogg voluntary recalled certain Austin and Keebler branded peanut butter sandwich crackers and select snack-size packs of Famous Amos peanut butter cookies and Keebler Soft Batch Homestyle peanut butter cookies, as they were contaminated with Salmonella. Later in March 2009, the company also recalled Keebler Soft Batch Homestyle Chocolate Chunk Cookies, Oatmeal Raisin Cookies, and Special K Protein Meal Bar Honey Almond variety. Kellogg's Special K brand introduced its first weight-management protein shake in May 2009. In the following month, the company enhanced the nutrition credentials by adding essential fibre to popular ready-to-eat cereals in Canada and the US. In June 2010, Kellogg implemented a voluntary recall of certain breakfast cereals including Kellogg's Apple Jacks, Fruit Loops, Corn Pops and Honey Smacks due to an uncharacteristic off-flavor and smell from the liner in the package.The company introduced the new Kellogg's FiberPlus Antioxidants Cereals in July 2010.

Kellogg Company © Datamonitor

Page 7

Kellogg Company Key Employees

KEY EMPLOYEES Name

Job Title

Board

A. D. David Mackay

President and Chief Executive Officer

Executive Board

John A. Bryant

Executive Vice President and Chief Executive Board Operating Officer

James M. Jenness

Chairman

Non Executive Board

Benjamin S. Carson

Director

Non Executive Board

224389 USD

John T. Dillon

Director

Non Executive Board

254389 USD

Gordon Gund

Director

Non Executive Board

242389 USD

Dorothy A. Johnson

Director

Non Executive Board

234889 USD

Ann McLaughlin Korologos

Director

Non Executive Board

227389 USD

Sterling Speirn

Director

Non Executive Board

233889 USD

John L. Zabriskie

Director

Non Executive Board

251389 USD

Donald R. Knauss

Director

Non Executive Board

236889 USD

Robert A. Steele

Director

Non Executive Board

233889 USD

Rogelio M. Rebolledo

Director

Non Executive Board

237739 USD

Ronald L Dissinger

Chief Financial Officer

Senior Management

Celeste A. Clark

Senior Vice President, Global Public Senior Management Policy and External Relations; and Chief Sustainability Officer

Bradford J. Davidson

Senior Vice President, Kellogg and Senior Management President, Kellogg North America

4275174 USD

Timothy P. Mobsby

Senior Vice President, Kellogg; Senior Management Executive Vice President, Kellogg International; and President, Kellogg Europe

4096450 USD

David J. Pfanzelter

Senior Vice President, Kellogg; and Senior Management President, Kellogg Specialty Channels

Gary H. Pilnick

Senior Vice President, General Counsel, Corporate Development and Secretary

Paul T. Norman

Senior Vice President, Kellogg and Senior Management President, Kellogg International

Juan Pablo Villalobos

Senior Vice President, Kellogg; and Senior Management President, US Morning Foods

Margaret Bath

Vice President, Research, Quality and Technology

Kellogg Company © Datamonitor

Compensation 11419447 USD

Senior Management

3390589 USD

Senior Management

Page 8

Kellogg Company Key Employees

Name

Job Title

Board

Mark R. Baynes

Vice President and Global Chief Marketing Officer

Senior Management

Kellogg Company © Datamonitor

Compensation

Page 9

Kellogg Company Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES A. D. David Mackay Board: Executive Board Job Title: President and Chief Executive Officer Since: 2006 Age: 54 Mr. Mackay has been the President and Chief Executive Officer at Kellogg since 2006. He has been the President of the company since 2003. Mr. Mackay joined Kellogg Australia as Group Product Manager in 1985. He became Category Director, ready-to-eat cereals in 1987. He returned to Australia in 1991 as Marketing and Sales Director, Kellogg Australia. In 1992, Mr. Mackay left Kellogg and became the Managing Director of Sara Lee Bakery in Australia. He returned to Kellogg in 1998 as Managing Director, Kellogg Australia and was promoted to Managing Director, the UK and Republic of Ireland later in 1998. Mr. Mackay was promoted to Senior Vice President, Kellogg and President, Kellogg US in 2000. He became Executive Vice President, Kellogg. He was named President and Chief Operating Officer of Kellogg in 2003. Mr. Mackay is also Director of Fortune Brands, Grocery Manufacturers of America, The Consumer Goods Forum and the Kalamazoo Institute of Arts.

John A. Bryant Board: Executive Board Job Title: Executive Vice President and Chief Operating Officer Since: 2010 Age: 44 Mr. Bryant has been the Executive Vice President, Chief Operating Officer, and a member of the Board of Director at Kellogg since 2010. He has been the Executive Vice President at the company since 2002 and Chief Operating Officer since 2008. He joined Kellogg in 1998. Mr. Bryant served as Vice President, Kellogg North America strategy development/business understanding and, in 1998, he was named Vice President, Financial Planning, and Cereal. In 2000, Mr. Bryant was named the Senior Vice President and Chief Financial Officer, Kellogg US. He became Senior Vice President and Chief Financial Officer of Kellogg Company in 2002. In the same year, he was promoted to Executive Vice President of Kellogg in addition to his role as Chief Financial Officer. Before joining Kellogg, Mr. Bryant held leadership positions with Deloitte & Touche, Marakon and A.T. Kearney.

James M. Jenness Board: Non Executive Board Job Title: Chairman Since: 2005

Kellogg Company © Datamonitor

Page 10

Kellogg Company Key Employee Biographies

Age: 63 Mr. Jenness has been the Chairman at Kellogg since 2005. He served as Chief Executive Officer of the company until 2006. Before this role, Mr. Jenness served as Chief Executive Officer of Integrated Merchandising Systems. Prior to joining Integrated Merchandising Systems, he served as Vice Chairman and Chief Operating Officer of Leo Burnett Company. Mr. Jenness is also Co-Trustee of the WK Kellogg Foundation Trust. He is a Director of Kimberly-Clark Corporation, Children's Memorial Hospital and the Mercy Home for Boys and Girls.

Benjamin S. Carson Board: Non Executive Board Job Title: Director Since: 1997 Age: 58 Dr. Carson has been a Director at Kellogg since 1997. He is also a Director of pediatric neurosurgery at The Johns Hopkins Medical Institutions. Dr. Carson is also a Professor of oncology, pediatrics, neurological surgery and plastic surgery at The Johns Hopkins Medical Institutions. He also serves as a Director at Costco Wholesale Corporation, the Academy of Achievement and is an Emeritus Fellow of the Yale Corporation, the governing body of Yale University. Dr. Carson is the President and co-founder of the Carsons Scholars Fund.

John T. Dillon Board: Non Executive Board Job Title: Director Since: 2000 Age: 71 Mr. Dillon has been a Director at Kellogg since 2000. Previously, he served as the Chairman and Chief Executive Officer of International Paper Company. Mr. Dillon is also a Director of Caterpillar and E.I. duPont de Nemours & Co. He served as Chairman of the Business Roundtable and the American Forest and Paper Association and as the Chairman of the Board of governors of the National Council for Air and Stream Improvement.

Gordon Gund Board: Non Executive Board Job Title: Director Since: 1986 Age: 70

Kellogg Company © Datamonitor

Page 11

Kellogg Company Key Employee Biographies

Mr. Gund has been a Director at Kellogg since 1986. He is the Chairman and Chief Executive Officer of Gund Investment Corporation. Mr. Gund is the Chairman and co-founder of the Foundation Fighting Blindness.

Dorothy A. Johnson Board: Non Executive Board Job Title: Director Since: 1998 Age: 69 Ms. Johnson has been a Director at Kellogg since 1998. She is the President of Ahlburg Company. Ms. Johnson is a former Director of National City Bank Corporation, the Corporation for National and Community Service, Council on Foundations, Foundation Center, Independent Sector, the National Charities Information Bureau, the National Center on Family Philanthropy, Indiana Center on Philanthropy and the Presbyterian Foundation.

Ann McLaughlin Korologos Board: Non Executive Board Job Title: Director Since: 1989 Age: 68 Ms. Korologos has been a Director at Kellogg since 1989. Previously, she served as a Senior Advisor to Benedetto, Gartland & Company. Currently, Ms. Korologos also serves on the Boards of AMR Corporation (the parent company of American Airlines); Host Hotels and Resorts, Harman International Industries and Vulcan Materials Company.

Sterling Speirn Board: Non Executive Board Job Title: Director Since: 2007 Age: 62 Mr. Speirn has been a Director at Kellogg since 2007. He is the President and Chief Executive Officer of the WK Kellogg Foundation. Mr. Speirn was previously the President of Peninsula Community Foundation. He was also Founder and Chairman of the Center for Venture Philanthropy. He is a former Chairman of Northern California Grantmakers and served on the Advisory Council of the Global Philanthropy Forum. Mr. Speirn is Co-Creator and former Board member of the Raising A Reader take-home book bag program.

John L. Zabriskie

Kellogg Company © Datamonitor

Page 12

Kellogg Company Key Employee Biographies

Board: Non Executive Board Job Title: Director Since: 1995 Age: 70 Dr. Zabriskie has been a Director of Kellogg since 1995. He is the President of Lansing Brown Investments. From 1997 to 1999, Dr. Zabriskie served as the Chairman and Chief Executive Officer of NEN Life Science Products. Previously, he was the Chairman, President and Chief Executive Officer of Pharmacia & Upjohn, Executive Vice President of Merck & Co. Dr. Zabriskie is also a Director of Array Biopharma, Area Discovery, PureTech Ventures and Protein Forest.

Donald R. Knauss Board: Non Executive Board Job Title: Director Since: 2007 Age: 59 Mr. Knauss has been a Director at Kellogg since 2007. He also serves as the Chairman and Chief Executive Officer of The Clorox Company since 2006. Prior to joining The Clorox Company, Mr. Knauss spent 12 years with The Coca-Cola Company in a variety of general management and division president roles. Prior to that, he held various positions in marketing and sales with PepsiCo and Procter & Gamble, and served as an officer in the US Marine Corps.

Robert A. Steele Board: Non Executive Board Job Title: Director Since: 2007 Age: 54 Mr. Steele has been a Director at Kellogg since 2007. He also serves as the Vice Chairman, Global Health and Well-Being at Procter & Gamble since 2007. Mr. Steele was Group President - Global Household Care at Procter & Gamble from 2006 to 2007 and Group President - North America from 2004 through 2006. Prior to that, he was President, North America from 2000 through 2004.

Rogelio M. Rebolledo Board: Non Executive Board Job Title: Director Since: 2008 Mr. Rebolledo is currently a Director at Kellogg. Previously, he served as the Chairman of the Pepsi Bottling Group, Mexico. Mr. Rebolledo also served as the company's President and Chief Executive

Kellogg Company © Datamonitor

Page 13

Kellogg Company Key Employee Biographies

Officer from 2004-2006. Prior to joining the Pepsi bottling business in Mexico in 2004, he held a number of key positions during his 27-year tenure with PepsiCo.

Ronald L Dissinger Board: Senior Management Job Title: Chief Financial Officer Since: 2010 Age: 52 Mr. Dissinger has been the Chief Financial Officer at Kellogg since 2010. He joined Kellogg in 1987 as a Supervisor in general accounting for the Mrs. Smith's subsidiary and was promoted to manager, cost accounting in 1990.

Celeste A. Clark Board: Senior Management Job Title: Senior Vice President, Global Public Policy and External Relations; and Chief Sustainability Officer Since: 2010 Age: 56 Dr. Clark has been Senior Vice President of Global Public Policy and External Relations and Chief Sustainability Officer at Kellogg since 2010. She joined the company in 1977 as a Nutritionist. Dr. Clark also serves on the Boards of Auto Club Group and AAA Michigan. She also serves on the Scientific Advisory Board of Mead Johnson Nutritionals.

Bradford J. Davidson Board: Senior Management Job Title: Senior Vice President, Kellogg and President, Kellogg North America Since: 2008 Age: 49 Mr. Davidson has been the Senior Vice President of Kellogg and President of Kellogg North America since 2008. He joined Kellogg Canada as a Sales Representative in 1984. He held numerous positions in Canada, including Manager of trade promotions, Account Executive, Brand Manager, area Sales Manager, Director of customer marketing and category management, and Director of Western Canada. Mr. Davidson moved to Kellogg US in 1997 as Director of trade marketing. He later was promoted to Vice President, channel sales and marketing and then to Vice President, national teams sales and marketing. In 2000, he was promoted to Senior Vice President, sales for the Morning Foods Division, Kellogg US, and to Executive Vice President and Chief Customer Officer of Morning Foods Division for Kellogg US in 2002.

Kellogg Company © Datamonitor

Page 14

Kellogg Company Key Employee Biographies

Timothy P. Mobsby Board: Senior Management Job Title: Senior Vice President, Kellogg; Executive Vice President, Kellogg International; and President, Kellogg Europe Since: 2000 Age: 54 Mr. Mobsby has been the Senior Vice President of Kellogg; Executive Vice President at Kellogg International; and President of Kellogg Europe since 2000. He joined the company in 1982 in the UK. From 1988 to mid 1990, he worked in the cereal marketing group of Kellogg US. From 1990 to 1993, Mr. Mobsby was President and Director General of Kellogg France & Benelux. He was subsequently appointed Vice President of marketing, innovation and trade strategy for Kellogg Europe based in Manchester, England.

David J. Pfanzelter Board: Senior Management Job Title: Senior Vice President, Kellogg; and President, Kellogg Specialty Channels Since: 2004 Age: 57 Mr. Pfanzelter has been the Senior Vice President of Kellogg and President of Kellogg Specialty Channels since 2004. He began his foodservice career in 1975 with Oscar Mayer Foods Corporation. In 1998, he joined the Keebler Foods Company as Vice President and General Manager of the foodservice division and was also a Corporate Officer. Following the acquisition of Keebler in 2001, Mr. Pfanzelter was named President of Kellogg's Food Away From Home. He was promoted to Kellogg's Vice President in 2003.

Gary H. Pilnick Board: Senior Management Job Title: Senior Vice President, General Counsel, Corporate Development and Secretary Since: 2003 Age: 45 Mr. Pilnick has been the Senior Vice President, General Counsel and Secretary at Kellogg since 2003. He joined the company in 2000 as Vice President, Deputy General Counsel and Assistant Secretary. Prior to joining the company, Mr. Pilnick was affiliated with the Chicago law firm of Jenner and Block from 1989 to 1995. He served as Vice President and Chief Corporate Counsel for Specialty Foods Corporation from 1995 to 1997. Mr. Pilnick became Vice President and Chief Counsel of Sara Lee Branded Apparel, North and South America in 1999.

Paul T. Norman

Kellogg Company © Datamonitor

Page 15

Kellogg Company Key Employee Biographies

Board: Senior Management Job Title: Senior Vice President, Kellogg and President, Kellogg International Since: 2008 Age: 45 Mr. Norman has been the Senior Vice President at Kellogg and President at Kellogg International since 2008. He joined Kellogg's UK sales organization in 1987. Mr. Norman was promoted to Director of Marketing for Kellogg de Mexico in 1997; to Vice President of Marketing for Kellogg US in 1999; and to President of Kellogg Canada in 2000. He was promoted to Managing Director of UK/Republic of Ireland in 2002. He was promoted to Kellogg Vice President in 2004.

Juan Pablo Villalobos Board: Senior Management Job Title: Senior Vice President, Kellogg; and President, US Morning Foods Since: 2008 Age: 44 Mr. Villalobos has been Senior Vice President, Kellogg; President, US Morning Foods since 2008. He joined Kellogg de Mexico in 1991 as Brand Manager, Marketing and was promoted to Group Brand Manager in 1992. Mr. Villalobos became Marketing Director of Kellogg Brazil in 1993 and General Manager of Kellogg Chile in 1994. Mr. Villalobos was promoted to General Manager of Kellogg Colombia in 1995 and to Convenience Foods Director of Kellogg de Mexico and Latin America in 1997. Later, he became General Manager of Kellogg de Mexico and Vice President of Kellogg Latin America in 1999.

Margaret Bath Board: Senior Management Job Title: Vice President, Research, Quality and Technology Since: 2004 Age: 46 Ms. Bath has been the Vice President of Research, Quality and Technology at Kellogg since 2004. She joined Kellogg as Director, Global Product Development in 2000. Prior to joining the company, Ms. Bath was employed by Frito Lay in Plano, Texas. She is a Board member of the American Association of Cereal Chemists.

Mark R. Baynes Board: Senior Management Job Title: Vice President and Global Chief Marketing Officer Since: 2008 Age: 49

Kellogg Company © Datamonitor

Page 16

Kellogg Company Key Employee Biographies

Mr. Baynes has been the Vice President and Global Chief Marketing Officer at Kellogg since 2008. He joined the company in the UK in 1990 as Senior Brand Manager.

Kellogg Company © Datamonitor

Page 17

Kellogg Company Major Products and Services

MAJOR PRODUCTS AND SERVICES Kellogg Company (Kellogg) is the global producer and marketer of cereal and convenience foods. The company's key products and brands include the following: Products: Ready-to-eat cereals Cookies Crackers toaster pastries Cereal bars Frozen waffles Meat alternatives Brands: Kellogg's Keebler Pop-Tarts Eggo Cheez-It Club Nutri-Grain Rice Krispies All-Bran Special K Mini-Wheats Chips Deluxe Sandies Morningstar Farms Famous Amos Kashi

Kellogg Company © Datamonitor

Page 18

Kellogg Company Revenue Analysis

REVENUE ANALYSIS The company recorded revenues of $12,575 million during the financial year ended December 2009 (FY2009), a decrease of 1.9% compared with 2008. For FY2009, North America, the company's largest geographic market, accounted for 67.7% of the total revenues. Kellogg operates through four geographic segments: North America, Europe, Latin America, and Asia Pacific. Revenue by geography* North America, Kellogg's largest geographical market, accounted for 67.7% of the total revenues in FY2009. Revenues from North America reached $8,510 million in 2009, an increase of 0.6% over 2008. Europe accounted for 18.8% of the total revenues in FY2009. Revenues from Europe reached $2,361 million in 2009, a decrease of 9.9% compared with 2008. Latin America accounted for 7.7% of the total revenues in FY2009. Revenues from Latin America reached $963 million in 2009, a decrease of 6.5% compared with 2008. Asia Pacific accounted for 5.9% of the total revenues in FY2009. Revenues from Asia Pacific reached $741 million in 2009, an increase of 3.5% over 2008. * Percentages rounded off.

Kellogg Company © Datamonitor

Page 19

Kellogg Company SWOT Analysis

SWOT ANALYSIS Kellogg is the world’s leading producer of cereal and one of the leading producers of convenience foods. The company markets more than 1,500 products in over 180 countries. A leading market position provides Kellogg with significant bargaining power as well as stabilizes the company's financial growth. However, a weak economic outlook for the important markets of Kellogg would put pressure on its top line and bottom line growth. Strengths

Weaknesses

Leading market position built on strong brands aided with robust advertising spend Strong product innovation creates sustainable growth Strong results in tough economic and macro environment enhances investor's confidence

Dependence on few customers for major portion of revenues Product recalls hampering brand image

Opportunities

Threats

Emerging health consciousness would drive the demand of the company's products Cost saving and efficiency programs to enhance profitability Growing global breakfast cereals market

Stringent regulations Soft consumer spending in the mature markets of US and Europe Intense competition and changing global retail scenario

Strengths

Leading market position built on strong brands aided with robust advertising spend With 2009 sales of $12,575 million, Kellogg is the world’s leading producer of cereal and of the leading producers of convenience foods. The company markets more than 1,500 products in over 180 countries. It offers its products under a large portfolio of well recognized brands including Kellogg’s, Keebler, Special K, Pop-Tarts, Eggo, Cheez-It, Nutri-Grain, Rice Krispies, Mother’s, Morningstar Farms, Murray Sugar Free, Townhouse, All-Bran, Frosted Mini-Wheats, Club, Kashi, Bear Naked, among others. Some top brands have even become synonymous with the category. Kellogg has a strong focus on strengthening its brands through advertising and consumer promotion. Advertising investment of nearly $1.1 billion in 2009 continued its consistent and strong investment into building its brands. At approximately 9% of net sales, this investment is significantly above than most of its peers in the packaged foods industry. In 2009, Kellogg took advantage of the significant media deflation. Rather than cutting back on advertising spending, the company invested even

Kellogg Company © Datamonitor

Page 20

Kellogg Company SWOT Analysis

more—over $1 billion in advertising—resulting in more consumer impressions and a greater impact from each dollar spent. A leading market position provides Kellogg with significant bargaining power as well as stabilizes the company's financial growth. Further, the company's strong brand strength supports the innovation process, in launching new products and enhancing the revenue stream. Kellogg has leveraged its high brand recognition to increase customer loyalty and compete effectively with regional players in various markets. Strong product innovation creates sustainable growth Kellogg consistently develops products that are differentiated in the marketplace and respond to the changing tastes and lifestyle needs of consumers around the globe.The company drives development and visibility of a robust pipeline of new products. In 2009, Kellogg completed the expansion of its primary research and development engine, the W.K. Kellogg Institute for Food and Nutrition Research. Further, the company invests in an open innovation program which enables Kellogg to benefit from external research from around the world to supplement its internal development capabilities. Among its many innovations in 2009, Kellogg extended its largest brand, Special K, even further by introducing Special K crackers, chocolatey pretzel bars, and fruit crisps, as well as new flavors of Special K cereal around the world including cinnamon pecan, blueberry, chocolatey flakes, fruit & nut clusters, and low-fat granola. The company also renovated many of its existing brands. Recent renovations focused on reducing sugar, sodium and fats. Kellogg also focuses on enhancing the nutritional value and benefits of the food products that it offers. For example, in 2009 the company added fiber to Froot Loops and Apple Jacks in the US as well as Froot Loops and Corn Pops in Canada. Strong focus on innovation and new product launches would enable Kellogg to expand its presence and strengthen the depth of its portfolio. This would in turn translate into increasing revenues and profitability. Strong results in tough economic and macro environment enhances investor's confidence Despite the backdrop of a difficult economic environment and a tough competitive landscape, 2009 was a profitable year for Kellogg. Total shareowner return on Kellogg shares for FY2009 was 22%, ahead of the S&P Packaged Foods & Meats Index total return of 16%. Five-year cumulative annual return of Kellogg shares (35%) significantly outperformed both the Packaged Foods & Meats Index (13%) and the S&P 500 Index (2%). In addition, Kellogg generated $3.16 Earnings per Share, a 13% increase on a currency-neutral basis. Also, the company generated record cash flow of nearly $1.3 billion. This enabled Kellogg to fulfill its commitment of returning cash to shareowners by increasing the dividend by 10% and returning nearly three-quarters of a billion dollars through dividends and share repurchases. Robust performance indicates financial soundness of the company and enhances investor's confidence in Kellogg.

Weaknesses

Kellogg Company © Datamonitor

Page 21

Kellogg Company SWOT Analysis

Dependence on few customers for major portion of revenues Kellogg has a concentrated customer base. The company’s sales are largely dependent on Wal-Mart Stores and its affiliates. For instance, Wal-Mart accounted for approximately 21% of Kellogg's consolidated net sales in FY2009. During the same period, the company’s top five customers, collectively, including Wal-Mart, accounted for approximately 34% of its consolidated net sales and approximately 44% of US net sales. Moreover, approximately 17% of the company's consolidated receivables balance and 26% of its US receivables balance comprised of amounts owed by Wal-Mart and its affiliates as on January 2010. As the retail grocery trade continues to consolidate and mass marketers become larger, Kellogg's large retail customers may seek to use their position to improve their profitability through lower pricing. Overdependence on large retail customers could negatively impact the company's profitability and volume growth. Product recalls hampering brand image Kellogg has been registering increasing instance of product recalls recently. For instance, in January 2009, Kellogg recalled certain Austin and Keebler branded peanut butter sandwich, crackers and select snack-size packs of Famous Amos peanut butter cookies and Keebler Soft Batch Homestyle peanut butter cookies. Products were recalled due to the potential to be contaminated with Salmonella, an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. In the following month, the company recalled Keebler Soft Batch Homestyle Chocolate Chunk Cookies, Oatmeal Raisin Cookies and Special K Protein Meal Bar Honey Almond variety only. This voluntary recall was a part of a larger product recall by Peanut Corporation's, one of Kellogg's peanut paste suppliers for crackers. Most recently in June 2010, Kellogg implemented a voluntary recall of certain breakfast cereals including Kellogg's Apple Jacks, Fruit Loops, Corn Pops and Honey Smacks due to an uncharacteristic off-flavor and smell from the liner in the package. Recurrent product recalls could affect the brand image of the company, which would lead to low customer loyalty and brand equity.

Opportunities

Emerging health consciousness would drive the demand of the company's products Over the past few years, there has been a newfound emphasis on healthier eating. With a changing lifestyle, people are becoming more aware of the negative effects of unhealthy eating habits. This is leading to a higher demand for low carbohydrate and low calorie foods worldwide. Accordingly, food items containing trans-fat are losing market share to low calorie, low fat, natural and organic products. According to industry reports, the sales for organic food grew by 15.8% in 2008. The growth rates exceeded the growth witnessed by conventional food products. Global demand for organic foods is expected to grow by 46% for a period of at least five years starting 2009. Kellogg's ready-to-eat cereal brands are well positioned to meet the demands developing from the growing health and wellness trends. The company’s largest brand Special K, a low-fat cereal, continues to grow globally at nearly double-digit rates and triple-digit in India. And, although only recently launched in South Korea, Special K is already a top cereal brand in the country. Furthermore, as the cereal

Kellogg Company © Datamonitor

Page 22

Kellogg Company SWOT Analysis

category continues to be on trend with demographic shifts around the world, Kellogg’s strong portfolio of adult cereals is well positioned, meeting the needs of aging baby boomers seeking foods that aid them with weight management and digestive health. The company’s portfolio of brands catering to the emerging health conscious consumers would fuel its profitability and strengthen its presence in the future. Cost saving and efficiency programs to enhance profitability In order to cope up with the challenging operating environment, Kellogg has set a goal of $1 billion in annual cost savings by the end of 2011. Supporting the cost challenge is K-Lean, the company’s ongoing initiative to drive continuous annual improvement. Lean principles ensure that Kellogg’s supply chain culture continues to foster improvement, drive waste reduction, create incremental capacity, optimize manufacturing operations, and uphold exemplary quality and safety standards. Kellogg began the implementation of Lean principles in its North American cereal operations in 2008. In 2009, the company expanded K-Lean globally throughout its manufacturing network, and followed with a broad implementation encompassing the supply chain support systems. Cost saving and efficiency programs in 2009 provided substantial progress and the company now expects to exceed $1 billion in savings over this three year period. These initiatives will not only give Kellogg excellent financial visibility but also positively enhance its flexibility. Growing global breakfast cereals market The global breakfast cereals market has demonstrated steady growth over a long period of time. According to Datamonitor estimates, the global breakfast cereals market generated total revenues of $24.5 billion in 2008, representing a compound annual growth rate (CAGR) of 3.3% for the period spanning 2004-2008. Ready-to-eat cereal sales proved the most important for the global breakfast cereal market in 2008, generating total revenues of $21.5 billion, equivalent to 87.8% of the market's overall value. The performance of the market is forecast to follow a similar pattern, with an anticipated CAGR of 3.2% for the five-year period 2008-2013, which is expected to lead the market to a value of $28.7 billion by the end of 2013. Kellogg is the world’s leading producer of cereal. The company is thus well positioned to exploit the growing breakfast cereals market and enhance its top line and profitability.

Threats

Stringent regulations As a specialist in cereal and convenience foods, the company's operations are subject to extensive regulation by the US Department of Agriculture, the US Food and Drug Administration and other state and local authorities that oversee food safety standards and the processing, packaging, storage, distribution, advertising and labeling of the company's products. Kellogg's manufacturing facilities and products are subject to constant inspection by federal, state and local authorities. Some of the acts like Clean Water Act, Clean Air Act, Solid Waste Disposal Act (as amended by the Resource

Kellogg Company © Datamonitor

Page 23

Kellogg Company SWOT Analysis

Conservation and Recovery Act), Comprehensive Environmental Response, Compensation and Liability Act, Emergency Planning Community Right-to-Know Act, Safe Drinking Water Act, Toxic Substances Control Act, and the Federal Insecticide, Fungicide, and Rodenticide Act, and related state and local laws and regulations, Claims or enforcement proceedings could affect the company. Additionally, the company is routinely subject to new or modified laws, regulations, and accounting standards. The company's failure or inability to comply with such requirements could subject the company to civil remedies, including fines, injunctions, recalls or seizures, as well as potential criminal sanctions, which may impact the business of the organization. Soft consumer spending in the mature markets of US and Europe As a company dependent upon consumer discretionary spending, Kellogg will face a challenging FY2010. All major western countries including the US, the UK, Germany, France, Italy, Spain, Japan and Australia are still reeling under the affect of recession. For instance, the recent debt crisis of Greece has the potential to contaminate the entire European economy. With Portugal and Spain also showing contagion effects, the eminent threat of another downfall in Europe is gaining grounds. Another economic turmoil and reduced consumer wealth may result in consumers becoming unwilling or unable to purchase the company's products, with clear implications for turnover and profitability. In the US, the consumer confidence is down being hit by both a property slump and rising prices of food and fuel. Although consumer spending is seeing some positive growth, Americans seem cautious and are not willing to increase spending, one of the reasons why the pace of the recovery is estimated to be more subdued than in the past. High unemployment which is estimated to reach 10% in 2010, sluggish wage gains and credit crunch are all expected to keep consumers relatively cautious. A weak economic outlook for the important markets of Kellogg would put pressure on its top line and bottom line growth. Intense competition and changing global retail scenario Kellogg faces intense competition across its product lines and also in both domestic and international markets. Some of its competitors like Sara Lee, Kraft Foods and PepsiCo have substantial financial, marketing and other principal factors of competition include new product introductions, product quality, taste, nutritional value, price, and promotion. For instance, PepsiCo's Quaker Oats is perceived to offer healthier and more nutritious cereals than Kellogg. Furthermore, the company’s products are sold in a marketplace which is experiencing an increased trade concentration and the growing presence of large-format retailers and discounters. With the growing trend toward retail trade consolidation, the company is increasingly dependent on key retailers. Some of these retailers have a greater bargaining strength than Kellogg. They may use this leverage to demand higher trade discounts, allowances or slotting fees, which could lead to reduced sales or profitability. Kellogg may also be negatively affected by changes in the policies of its retail trade customers, such as inventory de-stocking, limitations on access to shelf space, delisting of products and other conditions.

Kellogg Company © Datamonitor

Page 24

Kellogg Company SWOT Analysis

Changes in the policies of its retail trade customers and increasing dependence on key retailers in developed markets may adversely affect its business. Increasing competition from multinational manufacturers and private labels on the other hand could adversely affect the company's margins.

Kellogg Company © Datamonitor

Page 25

Kellogg Company Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Kellogg Company

Associated British Foods plc ConAgra Foods, Inc. General Mills, Inc. McKee Foods Corporation Nestle S.A. PepsiCo, Inc. Sara Lee Corporation Interstate Bakeries Corp. Hain Celestial Group, Inc., The Ralcorp Holdings, Inc. Kraft Foods, Inc. Cereal Partners Worldwide

Kellogg Company © Datamonitor

Page 26

Kellogg Company Company View

COMPANY VIEW A joint statement by David Mackay, President and Chief Executive Officer, and Jim Jenness, Chairman of the board of Kellogg is given below. The statement has been taken from the company's 2009 annual report. In 2009, we delivered strong, high-quality results while continuing to build an even stronger Kellogg Company for the future. Thanks to the hard work and passion of our 31,000 Kellogg employees around the world, the strength of Kellogg was demonstrated again in 2009 with another year of sustainable and dependable performance. By any measure, this was one of the most challenging operating environments in decades. However, we are pleased that despite the backdrop of a difficult economic environment and a tough competitive landscape, 2009 was a very good year for Kellogg. We once again delivered high quality results while building an even stronger company. Kellogg grew internal net sales, operating profit and earnings per share at, or above, our long-term annual targets. • We posted 3 percent growth in Internal Net Sales, driven by a particularly strong year in cereal and a solid year in snacks. • We delivered a 10 percent improvement in Internal Operating Profit, reflecting the success of our cost savings and productivity initiatives. • We generated $3.16 Earnings per Share, a 13 percent increase on a currency-neutral basis. We generated record cash flow of nearly $1.3 billion. We fulfilled our commitment of returning cash to shareowners by increasing our dividend by 10 percent and returning nearly three-quarters of a billion dollars through dividends and share repurchases. Instead of viewing the economic climate as a roadblock—we see it as an opportunity. We intend to emerge from this economic crisis as an even stronger, more focused, more effective organization. Throughout 2009, we invested in our strengths—building our brands in our core categories, spending effectively on brand-building advertising and marketing, innovating and renovating our products to meet our consumers’ changing needs, and identifying and implementing efficiencies and cost savings throughout our organization. This investment lays the groundwork for continued sustainable and dependable performance now and well into the future. Our well-known and trusted brands are the strength of Kellogg. As a focused, branded food company, we provide a balanced portfolio of brands that reaches consumers around the world. The key to our

Kellogg Company © Datamonitor

Page 27

Kellogg Company Company View

success is in the way we strengthen our brands to keep them relevant, resonant and powerful with consumers. Consumers demand variety and convenience, and, now more than ever, value. Consumers are trading into our core categories—such as cereal—in markets like the United States and the United Kingdom, and they recognize that Kellogg brands deliver on those needs. We operate in two of the strongest categories in the food industry—cereal and snacks—as well as frozen foods. Our strategy is to expand our cereal and snack business throughout the world and grow our frozen foods business in North America. Through leveraging the power of our brands and our proven ability to execute, we are intent on expanding our share in these categories. The ready-to-eat cereal category is robust and growing on a global basis. Its strong appeal to consumers continues even during this weak economy, as consumers seek greater value in addition to taste and convenience. Our cereal portfolio continues to perform well, not only in the U.S., but around the globe in Mexico, Australia, Canada and other core markets. In the U.S. we continue to drive growth and advertising support behind our top eight brands plus Kashi. The cereal category continues to be on trend with demographic shifts around the world. Our strong portfolio of adult cereals is well positioned, meeting the needs of aging baby boomers seeking foods that aid them with weight management and digestive health. Our goal is to be consumers’ top choice within these categories and also the leader in category growth. To accomplish this, we must develop new products to satisfy the consumer. The strength of Kellogg lies in our world-class innovation capabilities. Our innovation process begins and ends with the consumer. Our product development capabilities— both in innovation (developing new products) and renovation (improving existing products) — are critical to our continued success. We continue to invest in projects that expand our capabilities, focus our development efforts on strengthening our core brands and the equity behind them, and maintain a balanced portfolio of food offerings across our categories, markets, and brands. In 2009, we completed the expansion of our W.K. Kellogg Institute for Food and Nutrition Research, our world class R&D facility where we develop and renovate products to meet our consumers’ changing needs and tastes. The open atmosphere of this facility fosters collaboration among diverse team members, converging the strengths of varying talents and knowledge bases. Our pilot plant and super-kitchen improvements allow for rapid prototyping and multiple, simultaneous prototyping streams, both of which are critical to quickly launching successful innovation into the marketplace. Continued investment in our open innovation program enables us to benefit from outside research from around the world to supplement our internal development capabilities. We are seeing positive results in our three areas of focus—technology, strategic alliances with world-class research partners, and our online Great Ideas portal. We have strengthened our core brands through innovation of new products and flavors. Among our many innovations in 2009, we extended our largest brand, Special K, even further by introducing Special K crackers, chocolatey pretzel bars, and fruit crisps, as well as new flavors of Special K

Kellogg Company © Datamonitor

Page 28

Kellogg Company Company View

cereal around the world including cinnamon pecan, blueberry, chocolatey flakes, fruit & nut clusters, and low-fat granola. We also strengthened our brands through renovation. Applying new ideas to adjust the ingredients and nutrients in our existing foods, keeps our successful brands relevant with consumers today and in the future, thereby protecting these equities going forward. Recent renovations focused on reducing sugar, sodium and fats. We’re also enhancing the nutritional value and benefits our foods offer. For example, in 2009 we added fiber to Froot Loops and Apple Jacks in the United States as well as Froot Loops and Corn Pops in Canada. The strength of Kellogg is our long history of heavily investing in advertising and marketing to support our new and established brands. In 2009, we took advantage of the significant media deflation in a number of our markets. Rather than cutting back on advertising spending, we invested even more—over $1 billion in advertising— resulting in more consumer impressions and a greater impact from each dollar spent. To optimize our brand building, we consolidated our advertising agencies, market researchers and other vendors to create greater scale across the globe, improving the effectiveness of our advertising. We realigned our brands and marketing strategies by geographic regions to create even more advantages from scale. Soon after we consolidated our market research, we realized the benefit.We completed a broad-based market research study in all of our major ready-to-eat cereal markets. Our global research found that adult females across a variety of cultures share the same concerns and needs when it concerns health and weight management. So when we had early successes in the United Kingdom with a Special K marketing campaign “Moments of Truth,” we were able to roll it out across a variety of markets that were culturally very different. We had great results— Special K continues to grow globally at nearly double-digit rates—triple-digit in India. And, although only recently launched in South Korea, Special K is already a top cereal brand in that country. We continue to embrace digital marketing, investing heavily in digital capabilities, online campaigns and partnerships with experts in the space. In 2009, we partnered with leaders in the digital industry, such as Facebook for social media and Microsoft for technology architecture. We began investing in new technology infrastructures within Kellogg, increasing our ability to implement successful programs from one area of the world to another with ease and speed. The strength of Kellogg is our employees. The guiding principles of our K Values provide a positive and strong foundation for everyone in the Kellogg organization. Around the world, our employees are committed to excellence, focused on achieving our goals and eager to embrace new challenges. The experience, ideas, and ingenuity of the employees throughout Kellogg Company have generated a multi-year pipeline of cost-savings initiatives and efficiency improvements. In 2009, the entire Kellogg organization was challenged to deliver $1 billion in annual cost savings by the end of 2011. Our employees rose to the challenge, and we are currently on track to exceed that goal. We dramatically increased our investment in

Kellogg Company © Datamonitor

Page 29

Kellogg Company Company View

productivity and cost-saving initiatives during 2009 to a level equivalent to 26 cents of earnings per share, which is 12 cents above our strong 2008 level, while continuing to meet or exceed our long-term performance goals. We are investing the savings from these initiatives back into the business, providing fuel for future growth. Supporting the $1 billion cost challenge is K-Lean, our ongoing initiative to drive continuous annual improvement. Lean principles ensure that our supply chain culture continues to foster improvement, drive waste reduction, create incremental capacity, optimize manufacturing operations, and uphold exemplary quality and safety standards—all while enhancing our focus on consumer and customer satisfaction. We began the implementation of Lean principles in our North American cereal operations in 2008. In 2009, we expanded K-Lean globally throughout our manufacturing network, and followed with a broad implementation encompassing our supply chain support systems. We will eventually leverage these concepts across the entire Company. We see Lean as a culture-changing process that will take us to new levels of cross-functional collaboration and continuous improvement. Our long-term approach to making our business more efficient and effective rather than simply cutting functional costs will benefit us for years to come. Already in 2009, cost and capacity improvement activities combined with top-line growth helped to expand gross margins. As we enter 2010, we anticipate that the operating environment will remain challenging for Kellogg, our retailers and our consumers. However, we will maintain our focus on consumers, anticipating their changing needs and tastes and keeping our products relevant. We will continue to invest aggressively to support our brands. Our implementation of productivity and cost savings initiatives in 2009 has given us excellent financial visibility into our 2010 financial performance. By setting realistic financial targets, we will make decisions based on the long-term benefit to our Company and to our shareowners. We could not achieve success without our consumers, our partners, our employees, and, especially, our shareowners. Thank you for your continued confidence and support. We will continue to execute our sustainable growth model and focused business strategy to deliver sustainable and dependable performance—that is the strength of Kellogg.

Kellogg Company © Datamonitor

Page 30

Kellogg Company Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES Head Office Kellogg Company One Kellogg Square Battle Creek Michigan 49016 3599 USA P:1 269 961 2000 F:1 269 961 2871 http://www.kelloggcompany.com

Other Locations and Subsidiaries Kellogg Mexico Km 1 Canetera al Campo Militar Queretaro 76200 MEX

Keebler Foods Battle Creek MoichiganI 49016 1986 USA

Kellogg Calle 3 Esq 8 Parque Industrial Pilar BS.AS. 1629 ARG

Kellogg Brasil & Cia Av Das Nacoes Unidas 12995 Sao Paulo 04578 000 BRA

Kellogg De Colombia CL 17 NO. 68A 75 Santa Fe De Bogota COL

Kellogg Osterreich Handelskai 388/5/Top 533 Vienna 1020 AUT

Kellogg's Benelux Belgicastraat 7 1930 Zaventem BEL

Nordisk Kellogg's Stationsparken 24 st. 2600 Glostrup DNK

Nordisk Kellogg's Finland Lars Sonckin kaari 16 Espoo 02600 FIN

Kellogg's Produits Alimentaires R Léon Blum Rosny Sous Bois 93110 FRA

Kellogg Company © Datamonitor

Page 31

Kellogg Company Locations and Subsidiaries

Kellogg (Deutschland) Auf Der Muggenburg 30 28217 Bremen DEU

Kellogg Company of Ireland 9 Saint Johns Ct Swords Road Dublin IRL

Kellogg Espana C/ Licoristas 2 Pol. Ind. De Valls Valls Tarragona 43800 ESP

Kellogg's (UK) Talbot Road Manchester M16 0PU GBR

Kellogg Company © Datamonitor

Page 32