Milan, July 10 (LaPresse) – The Ferrero Group and WK Kellogg Co announced today that they have reached a definitive agreement under which Ferrero has agreed to acquire WK Kellogg Co for $23.00 per share in cash, for a total enterprise value of $3.1 billion.
The acquisition includes the production, marketing, and distribution of WK Kellogg Co’s iconic breakfast cereal portfolio in the United States, Canada, and the Caribbean. This move is part of Ferrero’s strategic growth plan and expands the company’s presence across multiple consumption occasions with well-known and highly appreciated brands.