WK Kellogg, the Battle Creek-based maker of cereals, agreed to the sale as the company has struggled with weakening consumer demand due to inflation.

The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and Froot Loops.

Italian chocolate maker Ferrero is buying WK Kellogg Co. in a more than $3 billion deal expected to be finalized before the year is out. ()