Ferrero Group is buying WK Kellogg Co. for roughly $3 billion. The deal will see the parent company of several candy bar and snack brands add a collection of well-known breakfast cereals to its holdings,

WK Kellogg, the maker of iconic American cereal brands, will be folded into the privately held owner of Nutella and Tic Tacs in a $3.1 billion deal.

The Italian candy company Ferrero plans to buy the American cereal maker Kellogg for $3.1 billion, the companies announced Thursday. The deal would unite the makers of household brands including Nutella and Frosted Flakes. American cereal giant Kellogg and Italian candy giant Ferrero have struck a sweet deal worth $3.1 billion.