The American company WK Kellogg’s acquired the Italian company Ferrero in a transaction valued at $3.1 billion.
With this commercial strategy, “Ferrero joins a massive portfolio of existing brands in North America, including Butterfinger, Keebler, Famous Amos, Jelly Belly, NERDS, Trolli, Blue Bunny, Bomb Pop, and Halo Top,” according to Forbes USA.
Upon completion of the transaction, which awaits WK Kellogg’s shareholder and regulatory approval, in addition to other customary closing conditions, the company’s common stock will cease trading on the New York Stock Exchange and the company will become a wholly owned subsidiary of Ferrero.
According to Forbes USA, the transaction includes the “manufacturing, marketing, and distribution of WK Kellogg’s breakfast cereal portfolio in the United States, Canada, and the Caribbean.”
Giovanni Ferrero, CEO of the Ferrero Group, stated regarding the purchase of the cereal brand: “This is more than just an acquisition; it represents the union of two companies, each with a proud legacy and generations of loyal customers.”
M.Pino
Source: forbes
(Reference image source: sarah b on Unsplash)
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