Kellogg, Ferrero and Battle Creek
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Italian candy maker Ferrero has agreed to purchase U.S. cereal company WK Kellogg Co. in a $3.1 billion transaction, according to reports.
The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
Italy's Ferrero has continued its U.S. spending spree with its proposed acquisition of famous cereal maker WK Kellogg amid wider food manufacturer consolidation.
The deal, which still needs approval from WK Kellogg Co.’s shareholders, is expected to close in the second half of the year.
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mlive on MSNKellogg sold to Italian candy company: How leaders are responding in the ‘Cereal City’WK Kellogg Co’s headquarters is in Battle Creek. After the transaction closes, Battle Creek will remain a core location for the company and will be Ferrero’s headquarters for North America cereal, a news release from WK Kellogg states.
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WWMT on MSNUnion members react to Ferrero's purchase of WK KelloggBATTLE CREEK, Mich. — WK Kellogg was purchased by Italian candy manufacturer, Ferrero, on Thursday. Ferrero purchased the food distributor for $3.1 billion.