Michigan's WK Kellogg Co., the cereal giant, is set to be acquired by the Italian candymaker behind Ferrero Rocher in a nearly $3 billion deal, the Wall Street Journal reported Wednesday. A deal with parent Ferrero SpA, the maker of Butterfinger candy bars and Nutella hazelnut spread, could be finalized as soon as this week, according to reports.

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

The Ferrero Group will acquire US cereal mainstay WK Kellogg for US$3.1 billion (RM13.1 billion) as the Italian food giant expands further in North

Kellogg’s sales, income and stock price have been on a down slide since the 2023 split with Kellanova; Ferrero will become one of the largest and broadest food processors in