Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
Digest more
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.
In one of the most significant acquisitions in the food industry, Italian food giant Ferrero has acquired American cereal giant Kellogg's for $3.1 billion (£2.3 billion), making popular food brands such as Kellogg's Frosted Flakes,
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,