WK Kellogg appreciates 30% with sale to Ferrero

Cereal company WK Kellogg rose 30.6% on the stock market on Thursday, following confirmation of its sale to chocolate company Ferrero. The deal is expected to be worth $3.1 billion (€2.6 billion) and is expected to close later this year.

The announcement sent the company's shares soaring to $22.86 at the close of trading on Thursday on the New York Stock Exchange.

With yesterday's increase, WK Kellogg has already gained 28.4% this year and 42.7% in the last year. This brings the company's market value to $1.9 billion (€1.6 billion).

The Ferrero Group owns brands such as: Crunch, Estathé, Ferrero Rocher, Fiesta, Kinder, Mon Chéri, Nutella, Raffaelo, Tic Tac.

WK Kellogg spinoff in 2023

In 2023, WK Kellogg became its own company, separating from Kellogg, which was renamed Kellanova, the latter of which was eventually sold to Mars for $36 billion in 2024. Mars owns brands such as: M&M's, Snickers, Twix, Skittles, Dove, Bounty, Mars, Sugus, Maltesers, Orbit, Pedigree, Whiskas, Royal Canin, Tasty Bite, Dolmio.

Kellogg is also publicly traded. Yesterday, it rose 0.5% to $79.67. Since the beginning of the year, it has lost 1.7% of its value and has risen 40.1% in the space of a year. Its market value stands at $27.6 billion.

The separation between the two companies meant that WK Kellogg was left with brands such as Corn Flakes, Froot Loops, All Bran, Special K. While Kellanova was left with brands such as Pringles, Pop-Tarts, Cheez-It.