Froot Loops Meets Nutella: Ferrero Buys Kellogg for $3.1 Billion

Froot Loops in the morning, a Tic Tac on the way, and Ferrero Rocher after dinner – all soon under one roof.

Italian confectionery giant Ferrero is acquiring U.S. breakfast brand WK Kellogg for a hefty $3.1 billion. A deal that’s making headlines: with it, well-known brands like Frosties, Rice Krispies, and Froot Loops will now belong to a company best known for Nutella, Kinder chocolate, and Mon Chéri.

Kellogg: One brand, two paths

WK Kellogg may sound new, but it traces back to a long-standing name. The company was formed in 2022, when the original Kellogg split into two entities. The global business – including snacks like Pringles – now operates under the name Kellanova. The U.S. cereal division, the birthplace of the iconic cornflakes, became the standalone brand WK Kellogg.

A multibillion-dollar breakfast

WK Kellogg was recently valued at around $1.5 billion on the stock exchange – Ferrero is putting significantly more on the table: $3.1 billion in cash. That’s $23 per share – a 31% premium over the last closing price before the Wall Street Journal reported on the deal. Ferrero CEO Giovanni Ferrero calls it a merger of “two companies with proud histories and generations of loyal customers.”

Ferrero’s growing appetite

This isn’t Ferrero’s first major move. The Italian family-owned company has been expanding steadily – especially in the U.S. market. Ferrero has had a presence in North America since 1969 and now employs around 14,000 of its 61,000 global staff there. Alongside Nutella, Ferrero also sells Tic Tac, Kinder products, and the iconic golden Ferrero Rocher in the region.
Now, with WK Kellogg, the company is securing an entirely new aisle in the supermarket – the breakfast one.

So what does this mean for us?

For consumers, not much will change – except perhaps the fun fact that Nutella and Froot Loops are now officially related. Behind the scenes, though, the deal marks another big move in the global food industry.

Will we see Nutella cornflakes anytime soon? Probably not. But one thing’s clear: the breakfast market is shifting – and Ferrero is ready to play a bigger role.

Photo by Haithem Fredi via Unsplash