Kellogg, Ferrero and breakfast cereal
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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.
WK Kellogg, the maker of iconic American cereal brands, will be folded into the privately held owner of Nutella and Tic Tacs in a $3.1 billion deal.
Ferrero International has 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 U.S. market.
Battle Creek staple WK Kellogg, maker of Kellogg’s cereal brands and other breakfast foods, could soon be owned by Italian chocolate maker Ferrero – a $3 billion deal that could be finalized as soon as this week.
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.
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Daily Voice on MSNFerrero Group Agrees To Buy WK Kellogg Co For $3.1 BillionA European chocolate giant is purchasing the cereal company behind Froot Loops, Frosted Flakes, and Rice Krispies.Ferrero Group has agreed to buy WK Kellogg Co for $3.1 billion, the candy company announced in a news release on Thursday,