Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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Kellogg’s, famous for making Frosted Flakes and Froot Loops, has struck a deal to be being for $3.1 billion by the Ferrero Group, which owns Nutella and Kinder.
The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
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Shares of WK Kellogg, the cereal maker behind Fruit Loops and Frosted Flakes, skyrocketed 50% after the Wall Street Journal reported Wednesday that Ferrero was nearing acquiring the company for $3 ...