The deal is worth $3.1 billion
Transcript:
CAROLINE WOODS: Call it a sweet deal – literally! Chocolate maker Ferrero is buying WK Kellogg – the maker of Fruit Loops and Frosted Flakes – in a deal worth $3.1 billion.
You may remember, WK Kellogg spun off into a standalone cereal company back in 2023. Its shares had been under pressure this year but are now surging – trading right around the $23 per share buyout price.
The move marks another bold step for Ferrero’s U.S. expansion. The Italian family-owned brand—best known for Nutella and Ferrero Rocher—has already scooped up Nestlé’s U.S. candy business and the maker of Halo Top ice cream.
The deal is expected to close later this year, pending approval from shareholders and regulators.
Ferrero’s U.S. menu is about to get a whole lot bigger – covering everything from breakfast to dessert.
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