Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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Ferrero will acquire WK Kellogg in a $3.1B deal, adding top cereal brands like Frosted Flakes and Special K to its growing portfolio.
The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and Froot Loops.
The Italian food giant Ferrero is expanding its North American portfolio by acquiring WK Kellogg, known for iconic brands like Froot Loops, Rice Krispies and Corn Flakes. Ferrero, known for brands like Nutella and Kinder, announced it will buy WK Kellogg’s for $23 a share, representing a total enterprise value of $3.1 billion.
Ferrero will acquire WK Kellogg Co for $3.1 billion, adding iconic US cereal brands like Frosted Flakes and Special K to its growing North American portfolio.
The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.