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Italy’s Ferrero Agrees to Buy Kellogg in $3.1 Billion Deal

Deals Roundup: Ferrero Buys WK Kellogg, DOD Invests in MP

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By Crystal Tse and Liana Baker

July 10, 2025 at 1:09 PM UTC

Updated on

July 10, 2025 at 5:26 PM UTC

Ferrero International SA agreed to acquire WK Kellogg Co. for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative US market.

Ferrero will pay $23 per Kellogg share in cash, according to a statement Thursday, representing a premium of about 31% from Kellogg’s closing price on Wednesday.