The Italian group Ferrero, the owner of such brands as Ferrero Rocher or Kinder, has reached an agreement on the purchase of WK Kellogg, the owner of such brands as corn flakes and all the discharge in the United States, Canada and the Caribbean. The value of the company, which is indicated on the New York Stock Exchange, is 3.1 billion dollars (2646 million euros), according to the company and collects Europa Press.
WK Kellogg was divided in 2023 of his matrix, who changed his business detonation to Kellanov and was immersed in his own corporate operation. The giant of Food of Mars agreed to acquire Kellanov last year in an operation that reaches $ 36,000 (more than 30.7 billion euros on current changes), and now encounters antimonopoly control of European regulators.
In accordance with the terms of the agreement reached by the Italian Multipoline, which has the approval of the Board of Directors of WK Kellogg, Ferrero will acquire all social capital when the company is applying for 23 US dollars for cash.
The price offered by Ferrero for the acquisition of the company is a 31% prize for marking at the end of yesterday’s session by WK Kellogg shares, which this Thursday overestimated more than 30% after the opening of Wall Strith.
Grow in the USA, Canada and the Caribbean
When the transaction ends, WK Kellogg will stop quoting on the New York Stock Exchange, and the company will become a subsidiary of Ferrero Ferrero.
The acquisition, which includes the production, marketing and distribution of the WK Kellogg breakfast portfolio in the United States, Canada and the Caribbean, is part of the Ferrero strategic growth plan, which currently has more than 14,000 employees in North America, distributed to 22 plants and 11 offices.
“This is more than a simple acquisition: it is a trade union of two companies, each of which has a heritage that is proud and generations of faithful consumers,” said Giovanni Ferrero, executive president of Ferrero Group, emphasizing that the company, founded in 1946, his grandfather, Italian confectionery Pietro Ferrero, has expanded the last years of its presence In North America. “Today’s news is a key milestone along the way, which imposes confidence in us in the possibilities that we have in front of him,” he added.
“We believe that this transaction maximizes the value for our shareholders and allows WK Kellogg to write the next chapter of the historical heritage of our company,” said Gary Pilnik, president and executive director of WK Kellogg.
