Ferrero Group has announced its acquisition of WK Kellogg Co for $3.1 billion, offering WK Kellogg Co's shareowners $23.00 per share in cash, which represents a 40% premium to the 30-day volume weighted average trading price. The acquisition includes the manufacturing, marketing, and distribution of WK Kellogg Co's iconic portfolio of breakfast cereals across the United States, Canada, and the Caribbean.
Ferrero, which already has a significant presence in North America with over 14,000 employees across 22 plants and 11 offices, plans to invest in and grow WK Kellogg Co's iconic brands, such as Kellogg's Frosted Flakes, Froot Loops, Frosted Mini Wheats, Special K, Raisin Bran, Kashi, and Bear Naked, among others. WK Kellogg Co is expected to become a wholly owned subsidiary of Ferrero after the successful completion of the transaction, subject to approval by WK Kellogg Co shareowners, regulatory approvals, and other customary closing conditions.
In connection with the announcement, WK Kellogg Co has provided preliminary second quarter 2025 net sales and adjusted EBITDA results. For the second quarter ended June 28, 2025, the company expects net sales to be in the range of $610 million to $615 million and adjusted EBITDA to be in the range of $43 million to $48 million. These preliminary results are subject to change upon completion of the company’s standard closing procedures and review by its independent registered public accounting firm. Following these announcements, the company's shares moved 3.49%, and are now trading at a price of $17.50. Check out the company's full 8-K submission here.
