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Since 1906, Kellogg marks such as corn flakes have been a beloved staple for breakfast tables throughout the country. Founded in Battle Creek, Michigan, the company has been an American company that will change that will change for more than a century. It has been announced that Ferrero, the Italian chocolate manufacturer, buys the grain maker who is responsible for supplying people from matte flakes and the grain foundation of sticky rice Krispie treats for no less than $ 3.1 billion. The deal must be completed later this year after market givers and shareholders agree with the buy -out.
The breakfast food brands of Kellogg have made an effort in recent years because consumers have opted for ‘healthy’ grains that contain less sugar. In 2023, the company split a decision in a decision to separate the wrestling grain side of the company from the more lucrative snack market, which brought the establishment of Kellanova. Not long after the divorce, candy conglomerate Mars started the purchase of Kellanova for $ 36 billion in a deal that still has to be completed. As soon as Kellogg’s Deal goes through with Ferrero, this is the end of an era for a company that has worshiped many people since childhood.
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Although some people may be sad to see that an American breakfast component is being bought out by a company abroad, investors are not exactly upset. After the Kellogg -Buyout was announced, the value of WK Kellogg shares increased by more than 30%. Before disclosure that Ferrero intended to buy the company, the share value of the grain maker had fallen around 2% during the year, which suggests that investors are optimistic that the chocolate company can turn things around for the struggling brand grain brand.
Ferrero has been acquiring snacking giants in the United States for several years. The company acquired Nestle brands such as Sweet Tarts and Butterfinger in 2018. And in 2022 the producer of Rocher Chocolates started the purchase of Wells Enterprises, the former Blue Bunny manufacturer and other ice brands. These buyouts, together with the recent purchase of Kellogg, indicate that Ferrero is large on the American consumer to stimulate the general turnover of the company.
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