Ferrero is about to conclude an agreement of approximately 3 billion dollars for the acquisition of the WK KELG KELG CEREAL CEREAL CERTOME. The Wall Street Journal writes by quoting sources close to the dossier.
The well -known Italian company could finalize the agreement for the iconic American brand this week, except for last minute unexpected events. WK Kellogg is the company behind Froot Loops, Frosted Flakes, Rice Krispies and a variety of other cereals. Today it has a market value of approximately 1.5 billion dollars and a debt of over 500 million dollars. An agreement would combine two historical food producers on the two banks of the Atlantic. The invention of Corn Flakes cereals in 1894 by the founder of the company, Will Keith Kellogg, led to the birth of the company at the beginning of the twentieth century. It is said that wheat cereal was born by chance, but that it then revolutionized the breakfast industry. Founded almost 80 years ago in Italy, Ferrero has expanded internationally to become the third confectionery company in the world in the chocolate sector, with about 35 brands sold in over 170 countries. In addition to Ferrero Rocher and Nutella, its offer also includes Butterfinger, Baby Ruth, Kinder and the homonymous chocolate sweets. The group generated a turnover of 18.4 billion euros, equivalent to around 21.5 billion dollars, in the last financial year, growing by almost 9% compared to the previous period, thanks to its activities in the United States and Italy.
Ferrero has focused on the United States for acquisitions aimed at growing geographically and expanding by category. He acquired Wells Enterprises, the manufacturer of Blue Bunny and other brands of ice cream, and previously concluded a 2.8 billion dollar agreement for the acquisition of the US business of Nestlé chocolate. WK KELLOGG is the result of the Scorporo, about two years ago, of the North American Division of Kellogg cereals in a company listed on the stock exchange. The remaining global Snack activity, called Kellanova, agreed to give in to Mars in a transaction of over $ 30 billion last year. The agreement would arrive at a time when the propensity of the Americans for snacks is changing. The highest prices on supermarkets, combined with the push towards healthier options, are leading consumers to adopt different habits when they shop and eat. The companies, in turn, are forced to adapt.
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