Kellogg Company (NYSE: K) announced the establishment
of Eighteen94 capital (1894), a venture capital fund, "to make minority investments in companies pursuing next-generation
innovation, bolstering access to cutting-edge ideas and trends."
"As consumer preferences move toward more diverse tastes and trends, the pace of innovation in the packaged food industry
continues to intensify," said Gary Pilnick, vice chairman of Kellogg Company. The initiative will "play an important role" in
achieving the company's 2020 strategic growth objectives according to Kellogg's website.
1894 will be managed by Simon Burton, who was a managing director, "10 year executive… [and has] extensive investment experience
in the Consumer Products sector with start-ups."
At time of writing, Kellogg Company traded at $77.05, up 0.25 percent in Monday's after-hours session.
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