Ferrero to Acquire WK Kellogg Co in $3.1 Billion Deal, Expanding U.S. Presence

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Business

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Image Credit: Anthony Rosenberg/Getty Images

Ferrero, the European confectionery powerhouse known for Nutella, Ferrero Rocher, and Kinder products, announced Thursday that it will acquire WK Kellogg Co the iconic American cereal maker behind Froot Loops and Corn Flakes in a $3.1 billion all-cash deal.

According to a press release issued by both companies, Ferrero will purchase all outstanding shares of WK Kellogg Co at $23 per share. Once finalized, WK Kellogg Co will become a wholly owned subsidiary of Ferrero and will no longer be publicly traded.

The acquisition has been unanimously approved by WK Kellogg Co’s board of directors and is expected to close in the second half of 2025, pending shareholder and regulatory approvals.

Ferrero Group Executive Chairman Giovanni Ferrero called the acquisition “a pivotal moment” in the company’s North American expansion strategy.

“This is more than just an acquisition, it represents the coming together of two companies, each with a proud legacy and generations of loyal consumers,” Ferrero said in a statement. “Today’s news is a key milestone in our journey, giving us confidence in the opportunities ahead.”

Founded in Italy and still privately owned by the Ferrero family, the company has aggressively expanded its North American footprint in recent years, acquiring beloved brands such as Keebler, Famous Amos, and Butterfinger. Ferrero now employs over 14,000 people in North America, operating 22 manufacturing plants and 11 corporate offices.

WK Kellogg Co, which spun off from Kellogg Company in 2023 to focus solely on the cereal segment, brings a portfolio of classic breakfast staples including Froot Loops, Frosted Flakes, and Raisin Bran. The deal marks a significant shift in the competitive landscape of the packaged food industry, with Ferrero extending its influence beyond confections and snacks into the U.S. breakfast table.

The move follows a trend of major consolidations in the global food sector. Earlier this year, Mars announced a $36 billion merger to acquire the parent company of Pringles, further intensifying competition among global snack and food giants.

With this acquisition, Ferrero signals its ambition to become a dominant force not only in sweets but across a broader range of consumer packaged goods, strengthening its long-term position in North America’s food market.e United States particularly in racially diverse, immigrant-rich cities like Los Angeles.