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Keebler may be sold by parent company Flowers Industries Inc.<FLO.N> as part of a plan to maximize shareholder value.

In a joint announcement, the two companies said their respective boards of directors have "authorized each of the companies to explore alternatives for the maximization of shareholder value, including the potential sale of Keebler."

Flowers owns 55 percent of Keebler Foods and said its board also plans to spin-off its non-Keebler assets to Flowers shareholders, which would include the Flowers Bakeries and Mrs. Smith's Bakeries businesses.

Click on the news link at the top of this page to read the full press release.

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