Ferrero, Froot Loops and Kellogg
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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.
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.
Kellogg, the maker of such brands as Frosted Flakes, Froot Loops, Rice Krispies and Raisin Bran, began business in 1906 as the Battle Creek Toasted Corn Flake Co., before becoming Kellogg Toasted Corn Flake Co. in 1909.
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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.