US EditionFroot 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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The fictitious candy tycoon, Willy Wonka, dismissed cereals as “repulsive” and being made with pencil chips. But for Ferrero International, whose late owner was often compared to the character, breakfast marks a key step in the diversification of a chocolate dynasty. The acquisition of WK Kellogg by the Nutella manufacturer for 3 billion dollars would mark the biggest purchase of the Italian candy giant in its 79 years of history. It also marks …
Ferrero Puts Snap, Crackle and Pop into Its Earnings With WK Kellogg Acquisition
Nutella-covered Froot Loops could become a thing now that Ferrero’s buying WK Kellogg for $3.1 billion. The Rice Krispies-maker’s shares did “Gr-r-r-eat” yesterday, popping 30% as investors backed the Italy-founded company’s takeover of American breakfasts. Ferrero previously bought Nestlé’s US candy biz for $2.8 billion, as well as chocolate-maker Fannie May and RedHots owner Ferrara — considering the name, it was inevitable. The Italian compa…
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