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.
Michigan's WK Kellogg Co., the cereal giant, is set to be acquired by the Italian candymaker behind Ferrero Rocher in a nearly $3 billion deal, the Wall Street Journal reported Wednesday. A deal with parent Ferrero SpA, the maker of Butterfinger candy bars and Nutella hazelnut spread, could be finalized as soon as this week, according to reports.
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