Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal.

Food Cereal maker Kellogg snapped up in $3.1 billion deal by company behind Nutella, Kinder Kellogg still makes Corn Flakes, as well as Froot Loops, Special K, Frosted Flakes, Rice Krispies and ...

Ferrero has signed a deal to take WK Kellogg private in an agreement worth $3.1 billion, The Associated Press reported.

Ferrero, known for brands like Nutella and Butterfinger, is taking cereal company WK Kellogg private in a deal valued at approximately $3.1 billion.

Nutella with your Corn Flakes? This cereal giant's stock rallies on a $3 billion deal. Provided by Dow Jones Jul 10, 2025, 6:35:00 AM

General Mills and Hormel teamed up to release Cinnamon Toast Crunch-flavored bacon last fall, a sweet-and-savory first for the Minnesota companies. Now the brand-boosting fun has mutated into another bacon-y creation. The newest mashup between the food giants flips the formula, imbuing smoky bacon flavors into bags of Cinnamon Toast Crunch.

The Ferrero Group has agreed to acquire WK Kellogg Co for $23 per share in cash, for a total enterprise value of $3.1 billion, WK Kellogg said in a news release. RELATED: Kellogg’s reportedly set to sell 119-year-old cereal company in $3B deal