Overview

• Ferrero will pay $23 per share in cash, representing a 31% premium to WK Kellogg’s last closing price.
• The deal is expected to close in the second half of 2025, after which WK Kellogg will be delisted from the New York Stock Exchange.
• WK Kellogg’s brands—including Froot Loops, Frosted Flakes and Special K—will join Ferrero’s lineup alongside Nutella, Ferrero Rocher and Tic Tac.
• The acquisition comes as WK Kellogg faces weakening demand for sugary cereals due to inflationary pressures and shifting consumer preferences.
• Ferrero has expanded aggressively in North America, previously acquiring Nestlé’s U.S. confectionery business in 2018 and ice cream maker Wells Enterprises in 2022.