Ferrero to buy cereal maker WK Kellogg for $3.1 billion
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Ferrero previously bought Nestlé’s US candy biz for $2.8 billion, as well as chocolate-maker Fannie May and RedHots owner Ferrara.
Ferrero International has agreed to acquire WK Kellogg Co. for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative U.S. market.
This deal continues Ferrero's track record of acquiring and growing well-known brands to strengthen its North American presence.
Snap, crackle and pay: Ferrero to acquire cereal giant WK Kellogg for US$3.1b to expand US footprint
The Ferrero Group will acquire US cereal mainstay WK Kellogg for US$3.1 billion (RM13.1 billion) as the Italian food giant expands further in North