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.
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
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,
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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.