Nutella maker to buy Kellogg for $3.1B
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The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
Shares of WK Kellogg, the cereal maker behind Fruit Loops and Frosted Flakes, skyrocketed 50% after the Wall Street Journal reported Wednesday that Ferrero was nearing acquiring the company for $3 ...
WK Kellogg, the Battle Creek-based maker of cereals, agreed to the sale as the company has struggled with weakening consumer demand due to inflation.