There are no two ways about it: WK Kellogg Co shareholders want the business to be taken over by confectionery major Ferrero.
In a landslide vote, 93% supported the merger. Just 6% voted against, and less than 1% abstained. Each share counted as one vote.
With the merger now approved, there’s only the question of ‘when’. And we now have the answer: the $3.1bn (€2.6bn) deal is expected to close on 26 September 2025.
Within days, Ferrero is expected to take ownership of WK Kellogg’s breakfast cereal portfolio – including household name brands Froot Loops, Special K and Frosted Flakes – across the US, Canada, and the Caribbean.
North American expansion has been on Ferrero’s radar. Slowly but surely it’s been buying up operations like Well Enterprises and Nestlé’s US confectionery business. So the WK Kellogg acquisition makes sense for Luxembourg-headquartered Ferrero.
But the deal also makes sense for WK Kellogg, which has been struggling financially since The Kellogg Company split in two. WK Kellogg is carrying more than half a billion dollars in debt.
Kellanova is hoping to be bought by Mars, Inc – pending approval from the European Commission.
It’s expected the Ferrero deal will “maximise value” for WK Kellogg shareholders. Once it closes, WK Kellogg stock will be delisted from the New York Stock Exchange and shares will no longer be publicly traded.
As to what the future holds for WK Kellogg brands under Ferrero, neither side has shared much. WK Kellogg CEO Gary Pilnick only hinted at potential future collaborations between the companies’ portfolios by exploring “opportunities beyond cereal”.
Whether that means Froot Loop-flavoured Kinder Bueno bars or something entirely unexpected, Ferrero’s next move will be worth watching.
