WK Kellogg

Ferrero is significantly expanding its presence in the US with the billion-dollar purchase of WK Kellogg’s breakfast division, targeting the lucrative US breakfast market. The group plans to leverage brands such as Corn Flakes, Raisin Bran and Rice Krispies to diversify beyond confectionery and win market share in North America. Ferrero is counting on product innovations like Nutella Peanut, increased local production and intensified marketing campaigns, including Super Bowl advertising; around 24 percent of sales already come from the US, Canada and the Caribbean. » Mere på t-online.de

The shareholders of WK Kellogg Co approved the takeover by Ferrero International through a merger with Frosty Merger Sub at an extraordinary general meeting. The vote was 62,488,674 votes in favor versus 4,375,732 against; closing is scheduled for September 26, 2025. Upon completion, WK Kellogg will become a wholly owned subsidiary of Ferrero, the common stock will be delisted from the NYSE, and the takeover is at $23 per share (valuation about $3.1 billion). » Mere på de.investing.com

Verival founder Wolfgang Fojtl bought the Tyrolean breakfast brand back from Kellogg in 2021 after differing quality standards and corporate cultures prevented a long-term partnership. The company, with around 40 employees, produces muesli and porridge for 35 countries and is now focusing on quality improvements, range expansion and growth in the hospitality sector. Fojtl criticizes regulatory conditions that disadvantage small providers versus corporations and is pursuing organic, niche-oriented growth rather than mass production. » Mere på kurier.at