Kellogg has agreed to sell its North American cereal business, including Froot Loops and Frosted Flakes, to Ferrero for $3.1 billion. This acquisition aims to enhance resources and brand growth in a competitive market. U.S. shoppers are shifting toward store-brand snacks and healthier options, prompting Kellogg to adapt by phasing out artificial dyes. The deal, which comes amid declining sales, will be reviewed by shareholders and federal regulators. Ferrero is increasingly focused on expanding its American presence, having made various notable acquisitions in recent years.
Joining Ferrero will provide WK Kellogg Co with greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market, said WK Kellogg CEO Gary Pilnick.
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., said Giovanni Ferrero.
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