Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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Giovanni Ferrero has expanded his family's company beyond brands like Nutella and built a global powerhouse—especially through big acquisitions in the U.S.
Ferrero, the family-owned Italian food group behind Nutella spread, Fulfil bars and Tic Tac and Kinder sweets, has agreed to buy the US breakfast cereal company WK Kellogg in a deal worth $3.1 billion (€2.65 billion) including debt.
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
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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.