The current company was formed in 2023, when Kellogg’s snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova.
NEW YORK — Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in an effort to expand its North American sales.
The Ferrero Group said Thursday it will pay $23 for each Kellogg share, or approximately $3.1 billion. The transaction includes WK Kellogg Co.’s six manufacturing plants and the marketing and distribution of its breakfast cereals across the United States, Canada and the Caribbean.
WK Kellogg’s shares were up 31% in
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