Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
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WWMT on MSNCommunity reacts to potential sale of WK Kellogg, a staple in Battle Creek's identityVassallo is disappointed in the potential sale, telling News Channel 3 that WK Kellogg is a longtime staple in town, and is what the "cereal city" was built off of. "I remember the stories of the original Mr. Kellogg, of how community oriented he was in supporting the schools, the churches, the community," Vassallo said.
The Italian food giant Ferrero is expanding its North American portfolio by acquiring Kellogg, known for iconic brands like Froot Loops, Rice Krispies and Corn Flakes. Ferrero, known for brands like Nutella and Kinder, announced it will buy Kellogg’s for $23 a share, representing a total enterprise value of $3.1 billion.