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Kellanova can\u2019t keep up with Pringles demand from hungry snackers across the globe.<\/p>\n
\u201cWe\u2019re selling every can of Pringles we can make,\u201d Chief Executive Officer Steve Cahillane said Tuesday in Chicago. He spoke at an event downtown hosted by the Executives\u2019 Club of Chicago. \u201cWe\u2019re opening new factories in Asia and Mexico even as we speak.\u201d\u00a0<\/p>\n
Cahillane said the company wants to invest in high-growth brands such as Pringles. Kellanova needs the fried potato crisps to gain market share after it spun off its North American\u00a0cereal business<\/a>\u00a0last year in an effort to focus on categories such as snacking and frozen foods.<\/p>\n Kellanova also can sell more products overseas, especially in African countries, according to Cahillane. The company has a noodles business in Nigeria that generates nearly $1 billion in sales, he said.<\/p>\n \u201cAfrica is, to me, the continent of this century and probably the next century,\u201d he said. \u201cWe made a big bet in Africa.\u201d<\/p>\n Legacy food companies have been trying to lure shoppers with different meal\u00a0occasions<\/a>, along with more snacks. Kellanova, based in Chicago, owns brands including Cheez-It, RXBAR and Eggo frozen waffles.\u00a0<\/p>\n However, the company\u2019s North American business has been under pressure as consumers stretch their dollars, cut food waste and switch to private label amid persistent inflation. In the latest quarter, the company\u2019s volumes dropped more than 6% in North America, while also declining in Europe.<\/p>\n<\/div>\n<\/div>\n