The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.

The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal. Shares of WK Kellogg jumped more than 30% in early trading.Ferrero said that it “plans to invest in and ...

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 ...

The deal values cereal maker WK Kellogg at $23 a share, a 30% premium to its closing price on Wednesday. WK Kellogg Co., the maker of Corn Flakes, Froot Loops and other iconic cereals, agreed ...

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.

Breakfast cereal could use a lucky charm. U.S. sales of the colorfully packaged morning staple have been in a decades-long decline, a trend back in the spotlight with news that Italian confectioner Ferrero Group plans to purchase the American company that makes Kellogg's Corn Flakes,