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Wk Kellogg

All articles tagged with #wk kellogg

business8 days ago•14 min saved

Ferrero’s US Brand Takeover Pushes Revenue Toward $3B

Ferrero has quietly built a US powerhouse by buying familiar brands like Fannie May, Butterfinger, Baby Ruth, Keebler, Famous Amos, and WK Kellogg’s cereals, and investing heavily in US manufacturing and R&D. This expansion has lifted US revenue from about $600 million in 2017 to roughly $3 billion, helped by new facilities and a growing North American workforce of more than 5,000 people, signaling Ferrero’s shift from a European sweets company to a major American food player.

via Business Insider|

#acquisitions #american-brands #business

business1 year ago•1 min saved

Ferrero and Rivals Eye U.S. Cereal Market in Billion-Dollar Deals

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.

via Yahoo Finance|

#acquisition-bid #business #cerberus-capital-management

business1 year ago•1 min saved

Ferrero to Acquire Kellogg in $3.1 Billion Crossover Deal

Ferrero, the European confectionery giant, is acquiring WK Kellogg Co., the maker of Froot Loops and other cereals, in a $3.1 billion deal expected to close in late 2025, marking Ferrero's expansion into the North American cereal market.

via ABC News - Breaking News, Latest News and Videos|

#acquisition #business #ferrero

business1 year ago•3 min saved

Ferrero to Acquire Kellogg for $3.1 Billion in Confectionery-Cereal Deal

Ferrero, the Italian confectionery company, is acquiring WK Kellogg, the American cereal producer, in a $3.1 billion deal to expand its presence in North America and diversify beyond candies and snacks, amid challenging market conditions and declining sales for Kellogg.

via The New York Times|

#acquisition #business #ferrero

business1 year ago•1 min saved

WK Kellogg Shares Surge 50% on $3 Billion Ferrero Acquisition Rumor

Shares of WK Kellogg surged over 50% following reports that Ferrero is close to a $3 billion deal to acquire the cereal company, which would expand Ferrero's presence in the U.S. packaged foods market amid ongoing industry consolidation.

via CNBC|

#acquisition #business #ferrero

business2 years ago•2 min saved

"Controversy Erupts as Kellogg CEO Recommends Cereal for Dinner Amid Criticism"

WK Kellogg CEO Gary Pilnick is facing criticism for suggesting that consumers struggling with food inflation should eat cereal for dinner, claiming that the message is "landing really well" with consumers. His comments come as data shows that 11.3% of disposable income was used on food in 2022, the highest figure since 1991. Consumers have expressed outrage at the suggestion, with some viewing it as a tone-deaf response to food insecurity and inflation, especially given Pilnick's million-dollar compensation.

via Fox Business|

#business #cereal-for-dinner #consumer-criticism