Loading tweets...
Confectionery firm Ferrero has announced that it has entered into a definitive agreement to acquire WK Kellogg, the US breakfast cereal manufacturer, for $3.1 billion.
Commenting on the move, Ferrero Group executive chairman Giovanni Ferrero said: “Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S. Today’s news is a key milestone in that journey, giving us confidence in the opportunities ahead”.
WK Kellogg chairman and chief executive officer Gary Pilnick added: “Since becoming an independent public company in October 2023, we have made excellent progress on our journey to become a more focused and more profitable business – driven by our tremendous people and a winning culture – all while building a strong foundation for future growth. Joining Ferrero will provide WK Kellogg Co with greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market”.
The acquisition includes the manufacturing, marketing, and distribution of WK Kellogg Co’s cereal portfolio across the US, Canada, and the Caribbean, featuring brands such as Frosted Flakes, Froot Loops, Special K, Rice Krispies, Kashi and Bear Naked.
WK Kellogg was created following the separation of Kellogg in 2023. Kellanova, the other company formed as a result of the separation, was announced as being acquired by Mars last August.
The transaction is expected to close in the second half of 2025, subject to customary closing conditions.
Source: Ferrero / WK Kellogg
