Le Mars, IA — The Ferrero Group, the parent company of Wells Enterprises in Le Mars, IA, is buying cereal maker WK Kellogg Co. It will pay $23 for each Kellogg share, coming to around $3.1 billion.
Kellogg’s was founded by W.K. Kellogg in 1906 in Battle Creek, Michigan, as the “Battle Creek Toasted Corn Flake Company.” In 1922, W.K. Kellogg renamed it the “Kellogg Company.” It went public in 1952 and acquired the Keebler Company in 2001 for $3.87 billion. In 2023, the company split into two independent companies: Kellanova, which was purchased by Mars Inc. in August of 2024 for almost $30 billion, and WK Kellog Co., which the Ferrero Group is purchasing.
“Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S. Today’s news is a key milestone in that journey, giving us confidence in the opportunities ahead,” Ferrero Executive Chairman Giovanni Ferrero said in a statement.
Fererro’s purchase of the WK Kellog Co will likely close in the second half of the year, after approval from Kellogg shareholders.
