Ferrero will acquire WK Kellogg in a $3.1B deal, adding top cereal brands like Frosted Flakes and Special K to its growing portfolio.

Ferrero will acquire WK Kellogg Co for $3.1 billion, adding iconic US cereal brands like Frosted Flakes and Special K to its growing North American portfolio.

Ferrero is set for a significant expansion of its portfolio in North America and Caribbean, as it confirms a huge $3.1 billion deal for WK Kellogg Co's breakfast cereal manufacturing operations in the region,

The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and Froot Loops.

This acquisition represents an important step in the expansion and growth of Ferrero's portfolio in North America.

Italian chocolate giant Ferrero is taking over one of America's oldest breakfast cereal companies, buying the maker of Kellogg's Corn Flakes for $3.1bn (£2.3bn). Ferrero said it planned to invest and expand WK Kellogg's "iconic" brands, which include Froot Loops and Rice Krispies.

Ferrero, the maker of Nutella, announces a $3.1 billion deal to acquire century-old cereal company WK Kellogg, expanding its North American breakfast and snack portfolio.

Giovanni Ferrero has expanded his family's company beyond brands like Nutella and built a global powerhouse—especially through big acquisitions in the U.S.

Ferrero, known for brands like Nutella, Butterfinger and Kinder, is taking cereal company WK Kellogg private in a deal valued at approximately $3.1 billion. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

Ferrero, the world's third-largest candy company, already sells popular grocery products like Ferrero Rocher, Nutella, Keebler, and Butterfinger. Shares of Kellogg's spiked in after-hours trading following the news. The cereal-maker's stock price jumped over 48 percent in the minutes after the reports.