K A S H R U T . C O M_©

July 10, 2025 from the Food Processing

"Luxembourg’s Ferrero Group will become one of the largest and broadest food processors in the U.S. with its $3.1 billion deal to acquire iconic U.S. cereal company WK Kellogg Co.

"The two sides this morning (July 10) announced a definitive agreement with Ferrero – maker of Nutella and more recently acquirer of Nestle’s U.S. candy business and ice cream maker Wells Enterprises/Blue Bunny – paying $23 per share in cash. Kellogg’s stock had been hovering between $15-18 per share.

"The acquisition includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across U.S., Canada and the Caribbean. International cereals went with snack-heavy Kellanova when the former Kellogg Co. split in two in October 2023.

"Kellanova didn’t last long either; it’s in the midst of being acquired by Mars Inc., which has been approved by the U.S. Federal Trade Commission but is being held up by European antitrust regulators.

"Since the split, WK Kellogg’s sales and net income have dipped – from $2.763 billion sales and $110 million net in 2023 to $2.708 billion sales and $72 million net in 2024. In its first quarter of this year, sales declined another 6.2% and net income another 45.5%.

"Ferrero’s North American portfolio includes self-developed brands Nutella, Kinder, Tic Tac and Ferrero Rocher, as well as acquired brands Butterfinger, Keebler, Famous Amos, Jelly Belly, Nerds, Trolli, Blue Bunny, Bomb Pop and Halo Top.

"The agreement has been unanimously approved by Kellogg’s board of directors, but still needs approval by WK Kellogg Co shareowners, regulatory approvals and other customary closing conditions and is currently expected to close in the second half of this year."