
WK Kellogg Shares Surge 50% on Reported $3B Acquisition Talks with Ferrero
New York – Shares of WK Kellogg soared over 50% on Wednesday following a report that Italian confectionery giant Ferrero is nearing a $3 billion deal to acquire the U.S. breakfast food company.
The Wall Street Journal reported that an agreement could be finalized as early as this week, citing sources familiar with the matter. The deal would mark another significant consolidation move in the global packaged food sector.
WK Kellogg, maker of iconic cereals like Froot Loops and Frosted Flakes, became a standalone company in 2023 after splitting from parent company Kellanova, which retained snack brands like Pringles and Cheez-It.
WK Kellogg currently holds a market cap of around $1.5 billion. The deal, if confirmed, would represent a substantial premium for shareholders.
Ferrero Expands U.S. Ambitions
Ferrero, known for Nutella and Ferrero Rocher, has been expanding its U.S. presence aggressively. In May, it launched new products including peanut Nutella and Dr Pepper Tic Tacs, aiming to capture more market share among American consumers.
The acquisition of WK Kellogg would bolster Ferrero’s foothold in the U.S. breakfast segment at a time when consumer tastes are shifting toward healthier and private-label options. Industry analysts see this move as part of a broader strategy to diversify offerings and hedge against changing consumption patterns.
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