Ferrero, the renowned European confectionery giant known for its beloved products such as Nutella and Ferrero Rocher, has announced plans to acquire WK Kellogg Co, the maker of the popular Froot Loops cereal. Unfortunately, this critically important deal in the transition won’t close until later this year. It’s an exciting moment for Ferrero, as the company continues to grow its presence in North America where it employs over 14,000 people and is home to 22 manufacturing plants and 11 offices.
Ferrero Group Executive Chairman Giovanni Ferrero said he was very optimistic about the future during the announcement of the acquisition. He added that the concession agreement represents the coming together of the two companies. Both have long, proud legacies of their own and have established decades of generations of brand-loyal consumers. Ferraiuolo said, “We are incredibly excited to have WK Kellogg Co as part of the Ferrero Group.”
Ferrero’s approach has been to lead with the strength of its brand equity, but to marry its numbered candies with local U.S. brands. Together with the acquisition of WK Kellogg Co, this is a foundational move on that journey. In the past couple of years, Ferrero has been on a serious expansion spree in North America, bringing together our beloved global brands with local American favorites like Ferrero. Today’s announcement is a key moment and vote of confidence on that journey and in the promising opportunities ahead,” said Giovanni Ferrero, Gov.
This acquisition will allow Ferrero to diversify and deepen its product portfolio. It will make the Froot Loops brand more Italian, therefore appealing to a broader and more diverse consumer base. This decision highlights Ferrero’s ongoing innovation pipeline and continuing expansion in the fast-paced, highly competitive North American marketplace.
Ferrero’s storied tradition and insistence on artistry has fueled its expansion, too. The company is proud to officially welcome WK Kellogg Co to its family. Collectively, they’ll pool their expertise and ingenuity to bring forth even more thrilling innovations, all while honoring the classic flavors consumers know and love.
