Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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WK Kellogg, the Battle Creek-based maker of cereals, agreed to the sale as the company has struggled with weakening consumer demand due to inflation.
WK Kellogg, the maker of iconic American cereals, will be folded into the owner of Nutella and Tic Tacs in a $3.1 billion deal. What’s “Froot Loops” in Italian?
W.K. Kellogg Co. has shown a strong commitment to Battle Creek since its formation,” said Interim City Manager Ted Dearing. “We are hopeful that this commitment will continue under Ferrero’s ownership.
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The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.