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On May 6, 2025 in Austin, Texas on May 6, 2025, in Austin, Texas on May 6, 2025 in Austin, Texas.
Brandon Bell | Gets the image
Chocolate Ferrero’s chocolate producer has agreed to buy a giant with cereals Wk Kellogg The company announced a $ 3.1 billion on Thursday.
WK Kellogg shares have grown 30% in Premarket on the ad. With the exception of the shares on Thursday, the shares fell more than 2% this year, dragging the company’s market value to about $ 1.5 billion. The $ 23 -dollar purchase price is 31% of the stock closing on Wednesday.
The transaction is expected to close in the second half of the year, before the approval of shareholders and regulators.
Wk Kellogg that makes us childhood such as Froot Loops and matte flakes, Curled up In the autonomous campaign in 2023, when Kellogg sought to focus more on its growing eateries and get rid of the category of sleepy cereals. Kellogg renamed yourself KelanovIn which snacks are now housed, such as Pringles and Cheez-IT. Owner M & M Mars agreed to buy Kelanov $ 36 billion last year in an agreement that has not yet closed.
The acquisition of Ferrero Wk Kellogg adds consolidation in packaged food. Many US consumers have avoided sweet cereals in favor of breakfast options that are more healthy and other buyers have moved to private labels after inflation in recent years.
This step deepens Ferrero’s ambitions in the US market. In recent years, the Italian family company has been engaged in the North American Purchase Spree, breaking the Candy Business Nestle and the chief owner of Halo Wells Enterprises.
The third largest American candy in May announced a new product slate Contact US consumers, including peanut nutela and Doctor Pepper Tics.
“In recent years, Ferrero has expanded its presence in North America, uniting our famous brands from around the world, and local values have been rooted in the United States,” Giovanni Ferrero Ferrero’s executive chairman said in a statement. “Today’s news is a key milestone on this journey, which gives us confidence in the opportunities that await.”
The WK Kellogg is expected to report its quarterly results on August 5, but the company will not hold a conference call, citing the expected agreement. According to preliminary results, the company also announced the company predicts net sales from $ 610 to $ 615 and adjusted profits to interest, taxes, depreciation and depreciation between $ 43 million to $ 48 million.
