Kellogg’s international unit routes €1.1bn through Ireland
KET is used as a conduit for sales from Europe, Africa and the Middle East
Kellogg’s, the global breakfast cereals giant, routed €1.1 billion of international sales through one of its Irish units, Kellogg Europe Trading (KET), last year, according to accounts recently filed.
KET is used as a conduit for sales from Europe, Africa and the Middle East for Kellogg’s, whose brands include Rice Krispies and Coco Pops. Almost half of its sales come from the UK. It had total assets at year end of €2 billion.
KET made a profit of €338 million in 2016, against a loss of €35 million the previous year, as a result of accounting income from the unwinding of a discount on a long-term loan.
It employs about 200 people, according to the accounts.