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Froot Loops maker WK Kellogg agrees to $3.1 billion deal from Italy's Ferrero
UNITED STATES, JUL 10 – Ferrero aims to expand its U.S. presence by acquiring WK Kellogg for about $3 billion amid declining cereal sales and ongoing industry consolidation, with shares jumping over 50%.
- Ferrero Group agreed to acquire WK Kellogg, a U.S. cereal company, in a $3.1 billion deal announced on July 10, 2025.
- WK Kellogg spun off from Kellogg Company in 2023 and has struggled with weak demand and consumers shifting to healthier or private-label cereals.
- The acquisition includes WK Kellogg’s breakfast cereal brands sold across the U.S., Canada, and the Caribbean and will make Kellogg a Ferrero subsidiary.
- Ferrero will pay $23 per Kellogg share, with analysts estimating $27.61 per share after accounting for $570 million net debt, and shares surged over 50%.
- The deal, pending shareholder approval, strengthens Ferrero’s U.S. market presence beyond confectionery and will end Kellogg’s trading on the New York Stock Exchange.
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266 Articles
Kellogg’s bought for $3.1B by Nutella parent company
Italian-based multinational company The Ferrero Group has struck a deal to acquire the century-old U.S. cereal company Kellogg’s for $3.1 billion. The move comes amid efforts by the Italian confectioner to grow its sales and expand the company’s reach across North America. Ferrero announced on Thursday it will add iconic American cereal brands including Corn Flakes, Froot Loops, Frosted Mini Wheats, Raisin Bran and Rice Krispies to its North Ame…
Ferrero will acquire Kellogg cereal brands for $3.1 billion - WDET 101.9 FM
WK Kellogg Co announced Thursday that it’s been bought by The Ferrero Group. The Italian multinational company makes candy and chocolate products including Nutella, Tic-Tac and Butterfinger.In a joint statement, both companies said Ferrero will acquire all of WK Kellogg Co., which makes the brand’s cereals. The release said Battle Creek will remain a “core location” for the company and will serve as Ferrero’s headquarters for its North American …
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