Ferrero to buy cereal maker WK Kellogg for $3.1 billion
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Ferrero previously bought Nestlé’s US candy biz for $2.8 billion, as well as chocolate-maker Fannie May and RedHots owner Ferrara.
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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?
July 10 (UPI) -- Italy's Ferrero will acquire U.S. cereal maker WK Kellogg in a $ 3.1 billion deal, the companies announced Thursday. The agreement includes manufacturing, marketing and distribution of WK Kellogg's portfolio of breakfast cereals across the United States, Canada and the Caribbean.