Latest news with #WKKelloggCo
Bloomberg
18-07-2025
- Business
- Bloomberg
Froot Loops, Apple Jacks to Cut Synthetic Dyes by End of 2027
WK Kellogg Co. will remove synthetic dyes from its cereals, including Froot Loops and Apple Jacks, by the end of 2027, joining a growing cohort of other US companies that have committed to eliminate colorants such as Red 40 and Yellow 5 from their foods. The Battle Creek, Michigan-based company said it would remove the additives on its website on Friday. It had previously announced that it wouldn't introduce new products with the dyes beginning in 2026 while also committing to eliminate the ingredients from its cereals served in schools by the 2026-2027 school year.
Yahoo
11-07-2025
- Business
- Yahoo
It's official: The company behind Nutella is buying the maker of Froot Loops
Ferrero Group is buying WK Kellogg Co. for roughly $3 billion. The deal will see the parent company of several candy bar and snack brands add a collection of well-known breakfast cereals to its holdings, including Raisin Bran, Froot Loops, and Corn Flakes. The creator of a number of breakfast-table staples is getting a new owner as Ferrero Group and WK Kellogg Co. have announced a deal that will see Kellogg folded into the corporate parent of such brands as Nutella, Tic Tac, Butterfinger, Baby Ruth, Famous Amos, and Bomb Pop. The deal, worth roughly $3 billion, will expand Ferrero's footprint in the North American market. Kellogg, of course, is the company that invented Corn Flakes, which revolutionized the breakfast market. Its other well-known brands include Froot Loops, Raisin Bran, Rice Krispies, and Frosted Flakes. 'We believe this proposed transaction maximizes value for our shareowners and enables WK Kellogg Co. to write the next chapter of our company's storied legacy,' said Gary Pilnick, chairman and CEO of WK Kellogg Co., in a statement. 'Joining Ferrero will provide WK Kellogg Co. with greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market.' Ferrero, founded nearly 80 years ago in Italy, says it plans to invest in and grow the Kellogg brands. The company has been on something of a buying spree in the U.S. recently as it looks to grow into more of a global business. Other recent takeovers have included Blue Bunny ice cream parent Wells Enterprises and the U.S. confectionery business of Nestlé. 'Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S.,' said Giovanni Ferrero, executive chairman of the Ferrero Group. 'Today's news is a key milestone in that journey, giving us confidence in the opportunities ahead.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
10-07-2025
- Business
Ferrero to buy Froot Loops maker WK Kellogg in $3.1 billion deal
Froot Loops cereal is getting an Italian twist. Ferrero, the European confectionery giant behind Nutella and Ferrero Rocher, is set to acquire WK Kellogg Co., the maker of Froot Loops and other classic American cereals, in a $3.1 billion deal, according to a press release issued Thursday. Under the agreement, Ferrero will purchase all outstanding shares of WK Kellogg Co for $23 per share in cash, the release said. Once finalized, WK Kellogg Co will become a wholly owned subsidiary of Ferrero and will no longer be publicly traded. The deal has been unanimously approved by WK Kellogg Co's board and is expected to close in the second half of 2025, pending shareholder and regulatory approval. In a statement, Ferrero Group Executive Chairman Giovanni Ferrero called the deal a pivotal moment. "I am thrilled to welcome WK Kellogg Co to the Ferrero Group,' he said. 'This is more than just an acquisition – it represents the coming together of two companies, each with a proud legacy and generations of loyal consumers.' He continued, "Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S. Today's news is a key milestone in that journey, giving us confidence in the opportunities ahead.' The acquisition is part of Ferrero's broader strategy to expand its North American footprint and reach more consumers with trusted, beloved brands. Ferrero now employs over 14,000 people across North America, operating 22 plants and 11 offices. Its growing portfolio includes Nutella, Kinder, Tic Tac and Ferrero Rocher, along with U.S. staples like Keebler, Butterfinger, Famous Amos and frozen treats such as Halo Top, Bomb Pop, and Blue Bunny.
Business Wire
10-07-2025
- Business
- Business Wire
Shareholder Alert: The Ademi Firm Investigates Whether WK Kellogg Co is Obtaining a Fair Price for its Public Shareholders
MILWAUKEE--(BUSINESS WIRE)--The Ademi Firm is investigating WK Kellogg Co (NYSE: KLG) for possible breaches of fiduciary duty and other violations of law in its transaction with Ferrero. Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ or toll-free: 866-264-3995. There is no cost or obligation to you. In the transaction, shareholders of WK Kellogg Co will receive $23.00 per share in cash, representing a total enterprise value of $3.1 billion. WK Kellogg Co insiders will receive substantial benefits as part of change of control arrangements. The transaction agreement unreasonably limits competing transactions for WK Kellogg Co by imposing a significant penalty if WK Kellogg Co accepts a competing bid. We are investigating the conduct of the WK Kellogg Co board of directors, and whether they are fulfilling their fiduciary duties to all shareholders. We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Bloomberg
10-07-2025
- Business
- Bloomberg
Italy's Ferrero Agrees to Buy Kellogg in $3.1 Billion Deal
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.
