<ul data-eligibleForWebStory="false"><li>Ferrero, the owner of Ferrero Rocher, is set to acquire cereal giant WK Kellogg in a deal valued at $3.1 billion due to struggling consumer demand amidst high inflation.</li><li>The deal, offering WK Kellogg's shareholders $23 per share, represents a 31% premium to the stock's closing price on Wednesday, with shares surging by 30% in pre-market trading.</li><li>This acquisition merges popular brands such as Nutella, Kinder, Frosted Flakes, and Special K under Ferrero's umbrella, marking Ferrero's largest acquisition recently.</li><li>With the transaction expected to finalize in the latter half of 2025, packaged food companies face challenges amid subdued demand and pressures to address health concerns, notably eliminating synthetic dyes.</li></ul>

Ferrero Rocher owner to buy cereal giant WK Kellogg in $3.1bn deal

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