Parsippany-Based Ferrero to Acquire WK Kellogg in 3.1 Billion Deal

Ferrero Group plans to acquire WK Kellogg for $3. 1 billion, with a share price of $23, reflecting a 40% premium. The expected closing date for the transaction is in the second half of 2025. This acquisition includes well-known breakfast brands such as Frosted Flakes, Special K, Froot Loops, and Raisin Bran. Ferrero's North American headquarters in Parsippany has expanded to over 14,000 employees since its establishment.

Giovanni Ferrero, the Executive Chairman, highlighted the strong legacies of both companies involved in the deal. WK Kellogg, which spun off as an independent entity in 2023, will become a wholly owned subsidiary of Ferrero. The company will also delist from the New York Stock Exchange as part of this transition. Ferrero's Parsippany office, which occupies a 135,000-square-foot building, has been pivotal in the company's expansion strategy in North America.