Froot Loops cereal is about to receive an exciting Italian twist! Ferrero, the renowned European confectionery giant known for its popular products such as Nutella and Ferrero Rocher, has announced its plans to acquire WK Kellogg Co., the maker of Froot Loops and other classic American cereals, in a significant $3.1 billion deal. This news was confirmed through a press release issued on Thursday.
According to the press release, under the terms of the agreement, Ferrero will purchase all outstanding shares of WK Kellogg Co. for $23 per share in cash. Once the acquisition is finalized, WK Kellogg Co. will operate as a wholly owned subsidiary of Ferrero and will no longer be publicly traded. The deal has received unanimous approval from WK Kellogg Co.’s board and is expected to close in the second half of 2025, pending necessary shareholder and regulatory approvals.
Giovanni Ferrero, Ferrero Group Executive Chairman, expressed his enthusiasm regarding the acquisition, calling it a pivotal moment for the company. “I am thrilled to welcome WK Kellogg Co. to the Ferrero Group,” he 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.”
He further articulated that the acquisition is a significant milestone in Ferrero's ongoing efforts to enhance its presence in North America, merging its well-known brands with beloved local products. “Today's news is a key milestone in that journey, giving us confidence in the opportunities ahead,” Ferrero added.
This acquisition aligns with Ferrero’s broader strategy to expand its footprint in North America and connect with more consumers through trusted and beloved brands. Currently, Ferrero employs over 14,000 people across North America, operating 22 plants and 11 offices. The company’s growing portfolio comprises not only iconic treats like Nutella, Kinder, Tic Tac, and Ferrero Rocher, but also U.S. staples such as Keebler, Butterfinger, Famous Amos, and popular frozen treats like Halo Top, Bomb Pop, and Blue Bunny.
As the acquisition progresses, consumers can look forward to the delightful fusion of Ferrero’s Italian heritage with the classic American flavors of WK Kellogg Co., making this a noteworthy development in the world of cereal and confectionery.
