Containers with completely different Kellogg cereals are proven on cabinets at a Walmart Tremendous Middle on Could 6, 2025 in Austin, Texas.
Brandon Bell Ghetto pictures
Shares on WK Kellogg Over 50% popped up on Wednesday after a report that chocolate producer Ferrero was close to about $ 3 billion to purchase a cereal firm.
The Italian firm, identified for its round sweets for hazelnuts, can finalize the acquisition of the Legacy Slurcer Meals enterprise proper after this week, The Wall Street Journal reportedquoting individuals aware of the query.
WK Kellogg that makes us child storms corresponding to frontal stitches and fats flakes, turn In a separate firm in 2023, a separate publicly traded enterprise, KelanBreakfast manufacturers corresponding to pringles and cheez-IT at the moment are housed. Proprietor of M&M Mars agreed to buy Kelanova For $ 36 billion final yr in a deal that isn’t over but.
The WK Kellogg shares fell about 2% this yr, and the corporate has roughly $ 1.5 billion in a market cap.
The acquisition of Ferrero by WK Kellog would add to consolidation in packaged meals. Many US customers have deviated from the candy cereals in favor of breakfast alternatives thought of to be more healthy, and different patrons have moved to personal labels after inflation has appeared in recent times.
This transfer will deepen Ferrero’s ambitions on the US market. Third largest sweet firm within the US in Could announce a new sheet of products To please US customers, together with peanut Nutella and Dr Pepper Tic Tacs.
