• Privacy Policy
  • Terms & Conditions
Truth of Financial World
  • World News
  • Politics
  • Science
  • Business
No Result
View All Result
  • World News
  • Politics
  • Science
  • Business
No Result
View All Result
Truth of Financial World
No Result
View All Result
Home Business

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 11, 2025
in Business
Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

What’s “Froot Loops” in Italian?

The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion.

The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer of Nutella, Tic Tac and Kinder chocolates.

WK Kellogg, based in Battle Creek, Michigan, was spun off from Kellogg’s in 2023, splitting the company’s North American cereal business from its other snack products like Pringles and Pop-Tarts, a unit that is now owned by the publicly traded conglomerate Kellanova. WK Kellogg, one of North America’s largest cereal makers, saw its shares surge more than 30% Thursday on the news of the deal.

The agreement comes after years of slowing demand for sugary breakfast cereals as many consumers look for healthier options. WK Kellogg came under fire last year when CEO Gary Pilnick said on CNBC that households squeezed by food companies’ price hikes should consider eating “cereal for dinner” to save money, part of a marketing pitch the company was making as an answer to inflation.

Yet snack demand, too, has flagged recently, with The Campbell’s Co. and General Mills each warning this year of slower sales as customers prioritize square meals.

Ferrero Rocher chocolates.Alexander Sayganov / SOPA Images / LightRocket via Getty Images file

Ferrero, perhaps best known for its namesake Ferrero Rocher chocolates in gold foil, originated in Alba, Italy, after World War II and is now a multinational food maker headquartered in Luxembourg. The company reported revenue of 18.4 billion euros last fiscal year, up nearly 9% from the one before.

Ferrero executive chairman Giovanni Ferrero described the acquisition Thursday as “a key milestone” in an effort to grow its footprint in North America, where the closely held company sells an array of popular candies.

The deal is among a series of high-profile Ferrero acquisitions in recent years. The firm bought Butterfinger, Baby Ruth and other U.S. candy brands from Nestlé in 2018, then acquired Kellogg’s bakery business, including Famous Amos and Keebler, in 2019 along with the manufacturer of Halo Top ice cream in 2022.

After the transaction closes, WK Kellogg will be delisted from the New York Stock Exchange and become a wholly owned subsidiary of Ferrero. The deal is expected to close later this year.

This post appeared first on NBC NEWS

Previous Post

Desperate Gaza doctors cram several babies into one incubator as fuel crisis reaches critical point

Next Post

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

Next Post
White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent News

    From admiration to Alaska: A timeline of Trump and Putin’s high-stakes encounters

    From admiration to Alaska: A timeline of Trump and Putin’s high-stakes encounters

    August 16, 2025
    Schumer claims Trump admin withholding Epstein files, threatens to sue

    Schumer claims Trump admin withholding Epstein files, threatens to sue

    August 16, 2025
    Hawley opens probe into Meta after reports of AI romantic exchanges with minors

    Hawley opens probe into Meta after reports of AI romantic exchanges with minors

    August 16, 2025
    Democrats doubt Trump will secure Ukraine cease-fire in Alaska summit with Putin

    Democrats doubt Trump will secure Ukraine cease-fire in Alaska summit with Putin

    August 16, 2025

    Disclaimer: truthoffinancialworld.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Politics
    • Science
    • World News

    Recent News

    From admiration to Alaska: A timeline of Trump and Putin’s high-stakes encounters

    From admiration to Alaska: A timeline of Trump and Putin’s high-stakes encounters

    August 16, 2025
    Schumer claims Trump admin withholding Epstein files, threatens to sue

    Schumer claims Trump admin withholding Epstein files, threatens to sue

    August 16, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 truthoffinancialworld.com | All Rights Reserved

    No Result
    View All Result
    • World News
    • Politics
    • Science
    • Business

    Copyright © 2024 truthoffinancialworld.com | All Rights Reserved