Ferrero is acquiring U.S. cereal company WK Kellogg for around $3.1 billion, with a purchase price of $23 per share. The deal ensures Ferrero will manage the marketing, manufacturing, and distribution of Kellogg's breakfast cereals in the U.S., Canada, and the Caribbean. Founded in 1906, WK Kellogg produces icons like Fruit Loops and Frosted Flakes. This acquisition continues Ferrero's expansion strategy in the U.S., following previous purchases of Nestle's U.S. candy brands and Wells Enterprises. The transaction awaits Kellogg shareholder approval and is set to conclude in the second half of the year.
Ferrero is purchasing WK Kellogg for approximately $3.1 billion, offering $23 per share, and plans to take over its breakfast cereal portfolio across North America.
Kellogg, founded in 1906, produces popular cereals like Fruit Loops and Frosted Flakes and will become a Ferrero subsidiary, ceasing stock trading.
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