Ferrero buys Froot Loops maker WK Kellogg

Ferrero, the maker of Nutella, will acquire WK Kellogg Co., the company behind Froot Loops, in a $3.1 billion deal. The acquisition will make WK Kellogg a wholly owned subsidiary. Ferrero will purchase all outstanding shares of WK Kellogg Co. for $23 per share. The deal, unanimously approved by WK Kellogg's board, is expected to close in the second half of 2025, pending approvals. This acquisition is part of Ferrero's strategy to expand its North American presence. Ferrero already owns brands like Keebler and Halo Top, and employs over 14,000 people in North America.