Ferrero Group to acquire WK Kellogg for $3.1bn.

Ferrero Group, a global confectionery and packaged foods company, agreed to acquire WK Kellogg, a US breakfast cereal maker, for $3.1bn. "I am thrilled to welcome WK Kellogg Co to the Ferrero Group. 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. Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S. Today's news is a key milestone in that journey, giving us confidence in the opportunities ahead," Giovanni Ferrero, Ferrero Executive Chairman.