Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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I had to go and investigate for myself. Throughout the course of the week, I sampled dozens of new and unreleased snacks, including new sour gummies, innovative dark chocolate bars, and flavorful nut spreads.
The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
Kellogg’s, famous for making Frosted Flakes and Froot Loops, has struck a deal to be being for $3.1 billion by the Ferrero Group, which owns Nutella and Kinder.
The creator of a number of breakfast-table staples is getting a new owner as Ferrero Group and WK Kellogg Co. have announced a deal that will see Kellogg folded into the corporate parent of such brands as Nutella, Tic Tac, Butterfinger, Baby Ruth, Famous Amos, and Bomb Pop.
Nutella prices may soon climb after Turkey — the world’s top hazelnut producer — was hit by a devastating spring frost that wiped out large swathes of crops. As the firm behind the brand faces rising raw material costs,
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This could impact Nutella prices as its Italian maker, Ferrero, buys about a quarter of Turkey’s hazelnut output, according to Bloomberg. The hazelnut supply squeeze could also affect Ferrero Rocher chocolates, another popular candy.
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WK Kellogg Co. shares are up nearly 50% after a report that Italy's Ferrero Rocher and Nutella maker is [nearing a $3 billion deal](