In a breakfast-branded shakeup, The Ferrero Group, famed for Nutella and Ferrero Rocher, has struck a $3.1 billion all-cash deal to acquire WK Kellogg Co., taking the iconic American cereal maker private in a transaction that reshapes the U.S. breakfast industry.
The $23-per-share agreement, announced Thursday, brings beloved household staples like Frosted Flakes, Froot Loops, and Special K into Ferrero’s fast-growing U.S. portfolio, bolstering its reach beyond sweets into the cereal aisle. The move signals Ferrero’s strategic leap into North American breakfast tables, long dominated by legacy brands.
From Candy to Cornflakes: Ferrero’s Expanding Empire
“This is more than an acquisition — it’s a fusion of two legacies,” said Giovanni Ferrero, executive chair of the family-owned Italian giant. “We are thrilled to welcome WK Kellogg Co into our family. These are brands with deep roots, and together, we’re ready to write the next chapter.”
The acquisition is poised to reinforce Ferrero’s U.S. operations, which already boast brands like Nutella, Kinder, Butterfinger, Keebler, Famous Amos, and Tic Tac. WK Kellogg will retain its Battle Creek, Michigan headquarters, which will now serve as Ferrero’s North American cereal command center.
