Ferrero to acquire WK Kellogg Co for US$3.1bn

On 10 July in Luxemburg and Battle Creek, Michigan, Italian sweet maker Ferrero Group announced it has reached an agreement to purchase breakfast cereal maker WK Kellogg Co for around US$3.1 billion (AU$4.7bn).

The acquisition includes the manufacturing, marketing and distribution of WK Kellogg Co’s portfolio of breakfast cereals across the United States, Canada and the Caribbean.

Ferrero said it has plans to invest in and grow Kellogg’s well-known brands, including Frosted Flakes, Froot Loops, Frosted Mini Wheats, Special K, Rice Krispies, Raisin Bran, Kashi, Bear Naked and more.

A leader in the breakfast cereal sector, WK Kellogg Co began operation in 1894 (nearly 120 years ago) when founder W.K. Kellogg reimaged breakfast food by creating Corn Flakes.

Ferrero also had humble beginnings in the small town of Alba in Piedmont, Italy, back in 1946, and has since grown into one of the largest sweet-packaged food companies.

“I am thrilled to welcome WK Kellogg Co to the Ferrero Group. 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,” said Giovanni Ferrero, Executive Chairman of the Ferrero Group. “Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the US. Today’s news is a key milestone in that journey, giving us confidence in the opportunities ahead.”

Upon the successful completion of the transaction, shares of WK Kellogg Co’s common stock will no longer trade on the New York Stock Exchange, and the company will become a wholly owned subsidiary of Ferrero.

The transaction is subject to approval by WK Kellogg Co shareowners, regulatory approvals and other customary closing conditions, and is currently expected to close in the second half of 2025.

After the transaction closes, Battle Creek, Michigan, will remain a core location for the company and will be Ferrero’s headquarters for North America cereal.

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