WK Kellogg Co’s headquarters is in Battle Creek. After the transaction closes, Battle Creek will remain a core location for the company and will be Ferrero’s headquarters for North America cereal, a news release from WK Kellogg states.

The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

The deal, which still needs approval from WK Kellogg Co.’s shareholders, is expected to close in the second half of the year.

Italian chocolate maker Ferrero is buying WK Kellogg Co. in a more than $3 billion deal expected to be finalized before the year is out. Ferrero will buy Kellogg for $23 per share in cash for a total of about $3.

BATTLE CREEK, Mich. (WILX) - Ferrero Rocher, the Italian candy company and Nutella owner, is close to purchasing Michigan cereal company WK Kellogg, reports the Wall Street Journal. The WSJ reported Wednesday that the $3 billion deal could be finalized this week. CNBC reported that WK Kellogg shares jumped 50% after the WSJ article.

A temporary road closure will affect a section of Michigan Avenue in downtown Battle Creek on Thursday, July 10, and Friday, July 11.