Ferrero is approaching a $ 3 billion deal for WK Kelogg

The people said that the talks were advanced and this week’s deal could be announced, and he asked not to know the discussion of private information.

Kelogg shares rose to 54 % in post -market trading after the Wall Street Journal reported earlier on Wednesday that the two companies approached the deal. The stock decreased by 2.7 % this year until Wednesday, as it valued the company at $ 1.51 billion.

Kelleogg has been acquired for several months. Dealreporter wrote in February that Ferrero was weighing an offer and that Betaville’s Blog said earlier this week that Kellogg had received an interest in acquisition.

Ferrero and Kelogg representatives immediately did not respond to the suspension requests.

Kilog, the owner of the brands of grains, fried Lops and frozen chips, struggles to revive growth while moving away from sugary foods. In May, the company Cut Its directives for annual organic sales, which prevent elements including currency changes, to a 3 % decrease. CEO Gary Bellnick described a “difficult operating environment”.

In 2023 Kelogg company Divided To two separate entities with her light business during the era of Kelanova and her brands for grains under WK Kellogg.

Last year, Keanova, the owner of Brings and Shuize, Declare Bloomberg data showed that Bloomberg has agreed to sell it to Mars Mars Inc. It was closely held for about $ 36 billion, including debt, the largest deal for this year.

Ferrero Nutella, Kinder and Tic Tac include signs, according to what she said. Website. The company, which was established in 1946, sells products in more than 170 countries. In the fiscal year until August, sales increased by 8.9 % to 18.4 billion euros (21.6 billion dollars).

Ferrero has selectively bought brands, including from Kellogg before the separation, to equip the product group.

I bought a set of cookies and snacks with a fruit flavor including the Kellogg brand in 2019 for $ 1.3 billion. The previous year, the company Purchase Bitterfinger and Baby Rnt brands from Nestle SA.

WK Kelogg treatment will diversify Ferrero after that Cocoa prices rose Recently for chocolate makers.