Company behind Nutella is buying the maker of Froot Loops
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Kellogg’s, famous for making Frosted Flakes and Froot Loops, has struck a deal to be being for $3.1 billion by the Ferrero Group, which owns Nutella and Kinder.
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.
The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
The Ferrero Group plans to acquire WK Kellogg Co., maker of Froot Loops. (Joe Raedle—Getty Images) Ferrero Group is buying WK Kellogg Co. for roughly $3 billion.