In 2019, Ferrero made a $1.3 billion acquisition of Kellogg's cookies, snacks and ice cream business. The Italian company revitalized these products by investing in new packaging and more marketing. In 2023, it also bought Fresystem Group and used the acquisition to grow its frozen food business and launch Nutella muffins and other baked goods.

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

The Ferrero Group said Thursday it will buy WK Kellogg Co. in a deal valued $3.1 billion, expanding the Italian food giant's global reach. Kellogg, which was founded in Battle Creek, Michigan, in 1906, is known for brands including Corn Flakes, Froot Loops, Rice Krispies and Special K. Ferrero's brands include Nutella and Rocher chocolates.