Ferrero strengthens its presence in the United States with the purchase of Kellogg's cereals

Italian confectionery group Ferrero appears insatiable. It is preparing to acquire WK Kellogg, the North American breakfast cereal specialist. To acquire brands such as Corn Flakes, All-Bran, and Rice Krispies, it has not hesitated to pay $3.1 billion (€2.6 billion), according to a press release published by the two companies on Thursday, July 10. The deal could be completed in the second half of 2025, subject to approval by WK Kellogg shareholders.

With this acquisition, the Italian family group, whose Nutella spread and Ferrero confectionery made the company's fortune, continues to push its pawns across the Atlantic. After establishing itself there with Tic Tac candies as its main ammunition, it acquired American chocolates Fannie May in 2017. A year later, it won the auction organized by the global food leader Nestlé, which was keen to offload its American confectionery brands such as Butterfinger, Baby Ruth, and Laffy Taffy, for a check for 2.8 billion Swiss francs (3 billion euros). The Swiss giant considered the business to be losing momentum.

You have 73.31% of this article left to read. The rest is reserved for subscribers.