Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in an effort to expand its North American sales.

WK Kellogg Co’s headquarters is in Battle Creek. After the transaction closes, Battle Creek will remain a core location for the company and will be Ferrero’s headquarters for North America cereal, a news release from WK Kellogg states.

Michigan's WK Kellogg Co., the cereal giant, is set to be acquired by the Italian candymaker behind Ferrero Rocher in a nearly $3 billion deal, the Wall Street Journal reported Wednesday. A deal with parent Ferrero SpA, the maker of Butterfinger candy bars and Nutella hazelnut spread, could be finalized as soon as this week, according to reports.

BATTLE CREEK, Mich. (WILX) - Ferrero Rocher, the Italian candy company and Nutella owner, is close to purchasing Michigan cereal company WK Kellogg, reports the Wall Street Journal. The WSJ reported Wednesday that the $3 billion deal could be finalized this week. CNBC reported that WK Kellogg shares jumped 50% after the WSJ article.

A temporary road closure will affect a section of Michigan Avenue in downtown Battle Creek on Thursday, July 10, and Friday, July 11.