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Acquisition supports Ferrero's portfolio expansion and growth in North America by adding WK Kellogg Co's highly complementary, iconic cereal brands, serving consumers across more occasions throughout the day
WK Kellogg Co shareowners to receive $23.00 per share in cash representing 40% premium to 30-day volume weighted average trading price
LUXEMBOURG and BATTLE CREEK, Mich., July 10, 2025 /PRNewswire/ -- The Ferrero Group ("Ferrero" or the "Company") and WK Kellogg Co (NYSE:KLG) today announced that they have entered into a definitive agreement under which Ferrero has agreed to acquire WK Kellogg Co, for $23.00 per share in cash, representing a total enterprise value of $3.1 billion. The acquisition, which includes the manufacturing, marketing and distribution of WK Kellogg Co's iconic portfolio of breakfast cereals across the United States, Canada and the Caribbean, is part of Ferrero's plan for strategic growth and expands the Company's reach across more consumption occasions with renowned beloved brands and strong consumer relevance.
Transaction Details
Under the terms of the agreement, Ferrero will acquire all outstanding equity of WK Kellogg Co for $23.00 per share in cash, representing a total enterprise value of $3.1 billion. Upon the successful completion of the transaction, shares of WK Kellogg Co's common stock will no longer trade on the New York Stock Exchange, and the company will become a wholly owned subsidiary of Ferrero.
The agreement has been unanimously approved by the Board of Directors of WK Kellogg Co.
The transaction is subject to approval by WK Kellogg Co shareowners, regulatory approvals and other customary closing conditions and is currently expected to close in the second half of 2025.
Posted In: KLG
