Ferrero, Froot Loops and Kellogg
Digest more
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.
5h
mlive on MSNKellogg sold to Italian candy company: How leaders are responding in the ‘Cereal City’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.
The Ferrero Group said Thursday it will pay $23 for each Kellogg share, or approximately $3.1 billion. The transaction includes WK Kellogg Co.’s six manufacturing plants, and the marketing and distribution of its breakfast cereals across the United States, Canada and the Caribbean.
15h
Axios on MSNKellogg to be acquired by Nutella maker for $3.1 billionBreakfast cereal maker WK Kellogg on Thursday said that it has agreed to be acquired for $3.1 billion by Ferrero International, the Italian maker of Nutella. The big picture: Kellogg has struggled recently due to healthier-eating trends and inflation, particularly since its 2023 spli t with a snacking unit that got renamed Kellanova.
The brand behind famous cereal brands like Frosted Flakes, Froot Loops and Rice Krispies is being sold in a $3.1 billion deal, the companies confirmed in a news release on Thursday, July 10. The Ferrero Group has agreed to acquire WK Kellogg Co for $23 per share in cash,