Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
Digest more
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.
Ferrero International has agreed to acquire WK Kellogg Co. for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative U.S. market.
5h
GlobalData on MSNFerrero reaches for the cereal bowlFerrero has added more products to its basket with an eye-catching move for US cereal business WK Kellogg. Ferrero has once again used M&A to expand into another part of the store – but will it pay off?