Ferrero and Rivals Eye U.S. Cereal Market in Billion-Dollar Deals
TL;DR
Cerberus Capital Management and billionaire Dean Metropoulos jointly made a serious but unsuccessful bid to acquire cereal maker WK Kellogg, which was ultimately acquired by the Ferrero Group for around $3.1 billion. The bid highlights ongoing interest and activity in the food sector, with Cerberus and Metropoulos having histories of investing in consumer brands, and raises questions about future potential targets.
Topics:top-newsbusiness#acquisition-bid#business#cerberus-capital-management#dean-metropoulos#food-industry#wk-kellogg
- Cerberus and Dean Metropoulos also made a bid for WK Kellogg, sources say Yahoo Finance
- Ferrero to buy Froot Loops maker WK Kellogg in $3.1 billion deal ABC News - Breaking News, Latest News and Videos
- Breakfast cereal sales declined for decades before Kellogg’s sale to Italian company AP News
- Nutella owner to buy U.S. cereal giant for over $3 billion Syracuse.com
- Billionaire Ferrero Clan Joins Rival Mars in Looking Beyond Chocolate Bloomberg
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