Ferrero Group announced Thursday it was buying the Kellogg cereal maker.
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Nutella’s parent company Ferrero is buying cereal maker WK Kellogg for $3.1 billion
Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal. Shares of WK Kellogg (KLG) jumped more than 30% in early trading. Ferrero said that it “plans to invest in and grow” the Kellogg business, which includes 14,000 employees and 22 plants.
