Ferrero expands U.S. manufacturing base with $3.1bn acquisition of WK Kellogg Co

Ferrero Group has announced a $3.1bn deal to acquire WK Kellogg Co, strengthening its U.S. manufacturing presence and expanding its portfolio of iconic breakfast cereals. Under the agreement, Ferrero will pay $23 per share in cash for the company, gaining control of its production, marketing and distribution across the U.S., Canada and the Caribbean. The…