Ferrero will acquire WK Kellogg in a $3.1B deal, adding top cereal brands like Frosted Flakes and Special K to its growing portfolio.

Italian confectioner Ferrero, parent to brands such as Nutella and Kinder, will acquire American cereal giant WK Kellogg for approximately $3.1 billion, as it seeks to expand its footprint in North America. With this acquisition, brands including Nutella, Tic Tac, Kinder, Froot Loops, Frosted Flakes, and Special K will come under one roof.

Ferrero will acquire WK Kellogg Co for $3.1 billion, adding iconic US cereal brands like Frosted Flakes and Special K to its growing North American portfolio.