Michigan's WK Kellogg cereal maker set to be bought by Italian candymaker Ferrero [View all]
Source: The Detroit News
Michigan's WK Kellogg Co., the cereal giant, is set to be acquired by the Italian candymaker behind Ferrero Rocher in a nearly $3 billion deal, the Wall Street Journal reported Wednesday.
A deal with parent Ferrero SpA, the maker of Butterfinger candy bars and Nutella hazelnut spread, could be finalized as soon as this week, according to reports.
Shares in Kellogg, the Battle Creek-based maker of Frosted Flakes, Cheerios, Froot Loops and other breakfast cereals, closed Wednesday at $17.50, but skyrocketed more than 50% in after-hours trading on news of a prospective deal.
Read more: https://www.detroitnews.com/story/business/2025/07/09/michigan-wk-kellogg-set-to-be-bought-by-italian-candymaker-ferrero/84525041007/
Seems like big news in Michigan and maybe nationwide when Kellogg is about the be bought by a European company, especially in the current tariff environment. Is it going to be stripped down for parts, or is Ferrero going to infuse cash into US-based production of Nutella? Mmmmm, Nutella.
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