WK Kellogg shares jump 40% on Ferrero deal report
The boxes of various Kellogg’s cereals are displayed on the shelves in a Walmart Supercenter in Austin, Texas on May 6, 2025.
Brandon Bell | Getty Images
Shares WK KELLOGG Ferrero, a chocolate manufacturer, rose more than 50% on Wednesday after a report that it was roughly close to a $ 3 billion agreement to buy the cereal company.
The Italian company, known for its circular hazelnut chocolates, can conclude the purchase of old breakfast food business as soon as possible this week, The Wall Street Journal reportedTo refer to people familiar with the subject.
WK Kellogg, who made us childhood staples such as Frot Loops and iced scales, turned into an independent company in 2023. KellanovaNow it contains snack brands like Pringles and Chees-II. M & M, Mars, has agreed to purchase Kellanova for $ 36 billion for an agreement that has not yet been closed last year.
WK Kellogg shares fell by about 2% this year and the company has a market value of about $ 1.5 billion.
Ferrero intake of WK Kellogg will contribute to consolidation in packaged foods. Many American consumers have avoided sugary grains in favor of more healthy breakfast options, and other shoppers have moved to special label brands after inflation has increased in recent years.
The movement would deepen Ferrero’s ambitions in the US market. In May, the third largest US Sugar Company announced a new product list to address American consumers, including Peanut Nutella and Dr Pepper Tic.
