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U.S. Corn Flakes Creator Kellogg Bought By Italian Candy Maker Ferrero For $3.1 Billion
The Italian food giant Ferrero is expanding its North American portfolio by acquiring WK Kellogg, known for iconic brands like Froot Loops, Rice Krispies and Corn Flakes. Ferrero, known for brands like Nutella and Kinder, announced it will buy WK Kellogg’s for $23 a share, representing a total enterprise value of $3.1 billion.
Italy’s Ferrero agrees to buy Kellogg in $3.1bn deal
Ferrero International SA agreed to acquire WK Kellogg Co. for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative US market. Ferrero will pay $23 per Kellogg share in cash, according to a statement Thursday, representing a premium of about 31% from Kellogg’s closing price on Wednesday.
Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying U.S. cereal company WK Kellogg in a deal ...
The Ferrero Group has agreed to acquire WK Kellogg Co for $23 per share in cash, for a total enterprise value of $3.1 billion ...
WK Kellogg is the second-largest cereal manufacturer in North America. Its cereal brands include Special K, Frosted Flakes, Raisin Bran, Froot Loops, Frosted Mini-Wheats, Kashi, Corn Flakes, ...
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