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Cereal giant WK Kellogg's shares surge 30% on $3B deal to be acquired by Ferrero Rocher owner
WK Kellogg CoWK Kellogg Co(US:KLG) New York Post·2025-07-10 23:23

WK Kellogg on Thursday agreed to be bought by the owner of Ferrero Rocher in a deal worth around 3.1billion,asthecerealmakerhasbeenstrugglingwithweakeningconsumerdemandduetopersistentlyhighinflation.Dealmakinginthesnackingspacehaspickeduppaceasfoodbrandsbattlemutedsalesinthewakeofpricehikesowingtohigherinputcostsandashiftinconsumerpreferenceforhealthieroptions.FerrerohasofferedWK Kellogg’sshareholders3.1 billion, as the cereal maker has been struggling with weakening consumer demand due to persistently high inflation.Deal making in the snacking space has picked up pace as food brands battle muted sales in the wake of price hikes owing to higher input costs and a shift in consumer preference for healthier options.Ferrero has offered WK Kellogg’s shareholders 23 per share, representing a 31% premium to the s ...