On July 10, 2025, The Ferrero Group and WK Kellogg Co announced they have entered into a definitive agreement for Ferrero to acquire WK Kellogg Co. The all-cash transaction values WK Kellogg Co at $23.00 per share, representing a total enterprise value of $3.1 billion.
The acquisition encompasses WK Kellogg Co's entire North American cereal portfolio, including manufacturing, marketing, and distribution across the United States, Canada, and the Caribbean. The deal is subject to approval by WK Kellogg Co shareowners and regulatory bodies, with an expected closing in the second half of 2025. The W.K. Kellogg Foundation Trust and the Gund Family, collectively holding 21.7% of common stock, have committed to vote in favor of the transaction. In connection with this announcement, WK Kellogg Co also provided preliminary second-quarter 2025 net sales in the range of $610 million to $615 million and adjusted EBITDA in the range of $43 million to $48 million.
This definitive agreement provides a clear and substantial premium for WK Kellogg Co shareholders, marking a pivotal moment for the company since its spin-off in October 2023. The integration into Ferrero's global portfolio is expected to provide WK Kellogg Co's iconic brands with greater resources and flexibility for future growth and market expansion.
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