There’s word of a blockbuster transaction in the breakfast cereal market. Frosted Flakes, Rice Krispies, and Fruit Loops are getting a new owner. Italian candy maker Ferrero is buying WK Kellogg. It’s a deal valued at approximately 3 billion dollars. The Michigan-based cereal company has been an American institution for the past 120 years.
Audio
Italy’s Ferrero to buy U.S. cereal maker Kellogg
There’s word of a blockbuster transaction in the breakfast cereal market. Frosted Flakes, Rice Krispies, and Fruit Loops are getting a new owner. Italian candy maker Ferrero is buying WK Kellogg. It’s a deal valued at approximately 3 billion dollars. The Michigan-based cereal company has been an American institution for the past 120 years.