Ferrero completes WK Kellogg Co acquisition for North American expansion
Key takeaways
- The Ferrero Group has completed its $3.1 billion acquisition of WK Kellogg Co.
- The acquisition strengthens Ferrero’s presence in the North American breakfast cereal market.
- This deal highlights Ferrero’s long-term strategy to diversify and expand its footprint in North America’s food sector.
The Ferrero Group has completed its acquisition of WK Kellogg Co, which is now a wholly owned subsidiary of Ferrero. The deal represents an enterprise value of around US$3.1 billion and supports Ferrero’s plan for strategic growth in North America.
The transaction was first announced on July 10, 2025, and approved by WK Kellogg Co shareowners on September 19, 2025. WK Kellogg Co has now ceased trading and will no longer be listed on the New York Stock Exchange.
Ferrero says it plans to invest in and grow WK Kellogg Co’s brand portfolio, which includes Kellogg’s Frosted Flakes, Froot Loops, Rice Krispies, and Special K, across the US, Canada, and the Caribbean.
The acquisition helps Ferrero target the breakfast category and complement its confectionery offerings, which include the Ferrero Rocher, Nutella, and Kinder brands.
The deal also includes WK Kellogg Co’s manufacturing footprint in North America. Ferrero acquired Wells ice cream in 2022 and Nestlé U.S. confectionery in 2018 as part of its long-term vision to target the region.
Ferrero also purchased Power Crunch to grow its presence in the better-for-you market. Power Crunch was established in the mid-90s and has experienced solid growth driven by a strong portfolio of high-protein offerings.
WK Kellogg Co was formed in 2023 after Kellogg Company split into two entities. The snacks business became Kellanova, and the North American cereal business became WK Kellogg Co.
In other news, Mars revealed plans to invest €1 billion (US$1.18 billion) into its EU operations by the end of 2026 as it seeks EU approval for its US$36 billion acquisition of Pringles maker Kellanova.
Meanwhile, Kraft Heinz Company revealed plans to separate into two independent, publicly traded businesses by the second half of 2026, following unanimous approval from its board of directors.
Ferrero wants to build on its confectionery portfolio by acquiring WK Kellogg Co.
