Sources familiar with the matter told leading financial publications, including the Wall Street Journal and Financial Times, that talks are at an advanced stage. The deal would see Ferrero take control of well-known breakfast brands such as Frosted Flakes, Fruit Loops and Rice Krispies.
The proposed acquisition places a value on WK Kellogg that is more than double its current market capitalisation, signalling strong investor confidence in the move.
Ferrero, best known for products like Ferrero Rocher, Nutella and Kinder chocolates, was founded in 1946 and remains headquartered in Italy’s Piedmont region. A successful deal would mark a major expansion into the American breakfast sector, positioning Ferrero as a serious competitor in a market long dominated by US food manufacturers.
–ChannelAfrica–
