Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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The Ferrero Group, a confectionery giant behind brands like Nutella and Kinder, is making a bold move to expand its North America footprint by acquiring WK Kellogg Co KLG for $3.1 billion. The all-cash deal, priced at $23 per share, gives Ferrero control ...
WK Kellogg, the Battle Creek-based maker of cereals, agreed to the sale as the company has struggled with weakening consumer demand due to inflation.
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
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The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.
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