BATTLE CREEK, MI (WKZO AM/FM) – Ferrero Rocher is purchasing Battle Creek-based WK Kellogg Company for $3.1 billion.
The sale was announced Thursday morning and WK Kellogg Company shareholders will receive $23 per share, which officials say represents 40% premium to 30-day volume weighted average trading price.
The sale includes WK Kellogg Company’s breakfast cereal line in the U.S., Canada, and the Caribbean and expands Ferrero Rocher’s reach across what they call “more consumption occasions with renowned beloved brands and strong consumer relevance.”
The company is planning to invest in and grow Kellogg’s iconic brands, including Frosted Flakes, Froot Loops, Mini Wheats, Special K, Rice Krispies, Raisin Bran, and Kashi Bear Naked.
The board of directors at WK Kellogg Company unanimously approved the sale, which is still subject to approval by shareholders and regulatory officials, and is expected to close in the second half of 2025.
Comments