The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

The deal combines the maker of Nutella with the company behind Froot Loops cereals, diversifying its chocolate-heavy portfolio at a time of high cocoa prices.

The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.