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Ferrero to take over US breakfast cereal giant Kellogg
Italian chocolate giant Ferrero is taking over one of America's oldest breakfast cereal companies, buying the maker of Kellogg's Corn Flakes for $3.1bn (£2.3bn). Ferrero said it planned to invest and expand WK Kellogg's "iconic" brands, which include Froot Loops and Rice Krispies.
Italy's Ferrero nears deal to buy Froot Loops maker WK Kellogg, source says
The Italian candy maker behind Ferrero Rocher and Nutella is nearing a deal to buy cereal maker WK Kellogg , a source told Reuters, an acquisition that would combine two of the world's best known consumer food makers.
WK Kellogg, the maker of iconic American cereals, will be folded into the owner of Nutella and Tic Tacs in a $3.1 billion deal.
The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion. The acquisition is set to bring the publicly traded maker of Froot Loops,
Nutella with your Corn Flakes? This cereal giant’s stock rallies on word of a $3 billion deal.
The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.
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