Ferrero has reached an agreement to acquire WK Kellogg for $3.1 billion. This acquisition includes 19 brands, featuring popular cereals such as Frosted Flakes and Froot Loops, as well as health-oriented options like Special K and Kashi. The transaction signifies a potential divestment from the cereal market following Kellogg's 2023 split into two companies, with Kellanova focusing on snack brands. Ferrero's strategy involves integrating North American brands, enhancing its product lineup with unique flavors. The deal awaits regulatory approval and is expected to conclude later this year.
WK Kellogg encompasses the North American company's range of nostalgic cereals - including childhood staples like Frosted Flakes, Froot Loops, and Apple Jacks, but also an array of popular breakfast cereal brands such as Frosted Mini Wheats, Special K, Kashi, and Krave, that appeal to the more health-oriented customer.
Ferrero has bought multiple North American brands over the last few years, including Nestle's U.S. candy business and Wells Enterprises, which owns Halo Top. In the time since, the Italian-owned company has given some of its newly acquired products an American twist, including the announcement of a peanut butter Nutella flavor, Dr. Pepper flavored Tic Tacs, and transforming its famous Ferrero Rocher chocolates into square bars.
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