Jul 10, 2025 - Business

Kellogg to be acquired by Nutella maker for $3.1 billion

Dan Primack

Cereal boxes on a store shelf — Boxes of Frosted Flakes and Froot Loops, both manufactured by Kellog, on a store shelf. Photo: Joe Raedle/Getty Images

Breakfast cereal maker WK Kellogg on Thursday said that it has agreed to be acquired for $3.1 billion by Ferrero International, the Italian maker of Nutella.

The big picture: Kellogg has struggled recently due to healthier-eating trends and inflation, particularly since its 2023 split with a snacking unit that got renamed Kellanova.

In an interesting parallel, both groups have agreed to go private via family-owned businesses, as Kellanova is being bought for $36 billion by Mars.

By the numbers: Ferrero is paying $23 per share in cash, which represents a 31.4% premium over Wednesday's closing price.

The bottom line: No word yet on product integrations, such as Nutella Frosted Flakes or gold foil-wrapped Froot Loops.

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Kellogg to be acquired by Nutella maker for $3.1 billion

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