Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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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.
This deal continues Ferrero's track record of acquiring and growing well-known brands to strengthen its North American presence.