Ferrero is buying Chocos maker Kellogg in a $3 billion deal
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July 10 (UPI) -- Italy's Ferrero will acquire U.S. cereal maker WK Kellogg in a $ 3.1 billion deal, the companies announced Thursday. The agreement includes manufacturing, marketing and distribution of WK Kellogg's portfolio of breakfast cereals across the United States, Canada and the Caribbean.
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
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The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.