"Ferrero buys US WK Kellogg for USD 3.1 billion

Italian chocolate and candy maker „Ferrero“ has agreed to acquire US breakfast cereal maker „WK Kellogg“.

The joint announcement from the companies indicates that a total of €3.1 billion in sales of Kellogg's Kellogg's is expected to be made in the next three years. The USD 1.3 billion deal, which will see „Ferrero“ settle directly with „WK Kellogg“ shareholders, is expected to be completed in the second half of the year.

„WK Kellogg“ owns brands such as „Froot Loops“, „Frosted Flakes“, „Rice Krispies“.

„WK Kellogg“ was formed in 2023 by splitting „Kellogg Co.“ into two companies. The second, which took over the snack business, was named „Kellanova“.

Since 1946, „Ferrero“ has been producing chocolate and sweets under the brands „Nutella“, „Kinder Surprise“, „Kinder Chocolate“, „Raffaello“, „Ferrero Rocher“, which is sold in over 170 countries.

Revenues at „Ferrero“, which employs more than 38,000 people worldwide, grew by one per cent in the last financial year, to €18.4 billion.