Company behind Nutella is buying the maker of Froot Loops
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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 Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.
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 Italian candy maker behind Ferrero Rocher and Nutella is nearing a deal to buy cereal ... Shares of WK Kellogg — the company behind Froot Loops and Frosted Flakes — surged about 55% ...