Newscasts - Italy's Ferrero nears deal to buy Froot Loops maker WK Kellogg
10/07/2025 10:48
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_ohm3i76h&referenceId=tag:reuters.com,2025:newsml_RW875610072025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: The Italian candy maker behind Ferrero Rocher and Nutella is nearing a deal to buy cereal maker WK Kellogg, a source told Reuters, an acquisition that would combine two of the world's best known consumer food makers. Julian Satterthwaite reports. Short Link: https://refini.tv/3IleJ7F Video Transcript: Ferrero Rocher chocolates and Froot Loops cereals could soon make a tasty combination. Italian firm Ferrero is close to acquiring US cereal-maker WK Kellogg, according to a Reuters source. The Wall Street Journal says the deal is valued at about $3 billion. Shares in WK Kellogg, which also makes brands like Frosted Flakes, surged 55% in late-trade Wednesday amid the reports. Neither company immediately responded to a request for comment. Ferrero has been looking to expand in the US. Over the past few years, it has acquired Nestle's chocolate business in the country, and ice cream firm Wells Enterprises, the maker of Blue Bunny and other brands. Ferrero now has 15 plants across North America, employing over 5,000 people. WK Kellogg is the cereals arms of the former Kellogg Company, having been spun off in 2023. It's been struggling with weak demand as consumers traded down from its pricier brands. The other part of the original business is now known as "Kellanova". It makes snacks including Pringles chips. Last year, it agreed to sell itself to Snickers-maker Mars in a $36 billion deal.