Deal unites two historic food manufacturers in Italy and the US.Italian confectionery giant Ferrero, known for Nutella and Ferrero Rocher, is taking over the iconic American cereal company WK Kellogg in a $3.1 billion deal.The acquisition, which follows a string of previous moves by the Ferrero Group to expand its North American footprint, will bring breakfast cereals under its corporate umbrella. Under the terms of the agreement, Ferrero will pay $23 per share for WK Kellogg Co., with the acquisition expected to close later this year. This transaction includes the manufacturing, marketing and distribution of the Kellogg cereal portfolio, which features popular brands such as Frosted Flakes, Froot Loops, Special K and Rice Krispies, across the United States, Canada and the Caribbean. The deal marks a strategic shift for Ferrero, which has traditionally focused on chocolate and snacks, and comes amid a major expansion in recent years. In a statement, Ferrero executive chairman Giovanni Ferrero expressed his excitement about the deal, stating, "This is more than just an acquisition—it represents the coming together of two companies, each with a proud legacy and generations of loyal consumers." Ferrero also noted the similarity between the two companies, both of which trace their roots "to humble beginnings as a family business, still operating in the town where they were founded". On completion of the transaction, Ferrero said that Kellogg's Michigan base at Battle Creek will remain a "core location" and will be Ferrero’s headquarters for North America cereal.

Italian confectionery giant Ferrero, known for  and , is taking over the iconic American cereal company WK Kellogg in a $3.1 billion deal. The acquisition, which follows a string of previous moves by the Ferrero Group to expand its North American footprint, will bring breakfast cereals under its corporate umbrella. Under the terms of the agreement, Ferrero will pay $23 per share for WK Kellogg Co., with the acquisition expected to close later this year. This transaction includes the manufacturing, marketing and distribution of the Kellogg cereal portfolio, which features popular brands such as Frosted Flakes, Froot Loops, Special K and Rice Krispies, across the United States, Canada and the Caribbean. The deal marks a strategic shift for Ferrero, which has traditionally focused on chocolate and snacks, and comes amid a major expansion in recent years. In , Ferrero executive chairman Giovanni Ferrero expressed his excitement about the deal, stating, "This is more than just an acquisition—it represents the coming together of two companies, each with a proud legacy and generations of loyal consumers." Ferrero also noted the similarity between the two companies, both of which trace their roots "to humble beginnings as a family business, still operating in the town where they were founded". On completion of the transaction, Ferrero said that Kellogg's Michigan base at Battle Creek will remain a "core location" and will be Ferrero’s headquarters for North America cereal.