Kellogg Acquires Worthington Foods

WORTHINGTON, Ohio--Worthington Foods, manufacturer and marketer of vegetarian and other healthful foods, reached an agreement with Kellogg Company. Kellogg has agreed to pay $24 for each of Worthington's approximately 12.8 million shares outstanding. The actual figure is approximately $307 million.

Worthington Foods is expected to have a sales increase of more than 20 percent over 1998, bringing annual sales to more than $170 million. Worthington's brands include Morningstar Farms, Natural Touch, Worthington and Loma Linda.