Key Takeaways Ferrero will acquire KLG for $3.1B in cash, gaining control of its iconic cereal brands. The deal allows Ferrero to enter the breakfast category and expand its footprint in North America. KLG stock rose 30% on the news, with shares closing at $22.86 after outpacing its industry in three months.The Ferrero Group, a confectionery giant behind brands like Nutella and Kinder, is making a bold move to expand its North America footprint by acquiring WK Kellogg Co (KLG) for $3.1 billion. The all-ca ...