<h1>Ferrero acquires WK Kellogg for $3.1 billion to expand North American breakfast cereal operations</h1> Italian confectioner Ferrero announced plans to acquire US cereal company WK Kellogg for $3.1 billion, paying $23 per share. The deal includes manufacturing and distribution of breakfast cereals across North America. The century-old cereal maker, formed in 2023 after spinning off from snack brands, has struggled with declining US cereal consumption. Ferrero seeks to expand its North American presence through the acquisition, leveraging the cereal company's distribution network. The transaction requires shareholder approval and is expected to close in the second half of the year.