Ferrero Group, the international sweet-packaged food company behind brands like Nutella, Kinder, and Ferrero Rocher, has announced a deal to acquire WK Kellogg in an all-cash transaction valued at approximately $3 billion. The acquisition includes WK Kellogg's manufacturing, marketing, and distribution of well-known breakfast cereal brands across the U.S., Canada, and the Caribbean. Upon closing, WK Kellogg will become a wholly owned subsidiary of Ferrero, and its stock will no longer trade on the New York Stock Exchange. The deal has been unanimously approved by the WK Kellogg Co. board and is expected to close in the second half of 2025, subject to shareholder and regulatory approvals. Major stakeholders, including the W.K. Kellogg Foundation Trust and the Gund Family, have pledged their votes in favor of the transaction.
Giovanni Ferrero, Executive Chairman of the Ferrero Group, stated, “This is more than just an acquisition—it represents the coming together of two companies, each with a proud legacy and generations of loyal consumers.” WK Kellogg Co’s CEO, Gary Pilnick, added, “Joining Ferrero will provide WK Kellogg Co with greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market. As a family-owned private company with values in line with our founder W.K. Kellogg, Ferrero provides a great home for our people and has a track record of supporting the communities in which it operates.” Ferrero plans to retain Battle Creek, Michigan, as the headquarters for its North America cereal operations, continuing to invest in and expand the long-standing cereal portfolio.
