The Ferrero Group has completed its acquisition of WK Kellogg Co., making it a wholly owned subsidiary.
Previously announced on July 10 in a deal valued at $3.1 billion, WK Kellogg Co. shareowners approved the transaction on Sept. 19, Ferrero said in a statement on Friday.
As a result of the merger, WK Kellogg Co. has ceased trading and will no longer be listed on the New York Stock Exchange.
Ferrero said the acquisition of WK Kellogg Co. supports its plan for strategic growth across the U.S., Canada and the Caribbean. Ferrero plans to invest in and grow WK Kellogg Co.’s portfolio of brands, which includes Kellogg’s Frosted Flakes, Froot Loops, Special K, Rice Krispies, Raisin Bran, Frosted Mini-Wheats, Kashi, Bear Naked and others.
WK Kellogg Co. was formed in October 2023 when Kellogg Co. split into two separate entities: WK Kellogg Co., focused on cereal, and Kellanova, focused on snacks.
Ferrero, Parsippany, New Jersey, and its affiliated companies have more than 14,000 employees across 22 plants and 11 offices. Its North American portfolio includes Nutella, Kinder, Tic Tac, Ferrero Rocher, Butterfinger, Keebler, Famous Amos, Jelly Belly, Nerds, Trolli, Blue Bunny, Bomb Pop and Halo Top.
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