Ferrero Completes Acquisition of WK Kellogg Co, Expands Reach Across North America

Ferrero completes acquisition of WK Kellogg Co, marking the next chapter in its strategy to acquire and grow iconic brands in North America. The acquisition expands Ferrero's reach across more consumption occasions with beloved brands and supports its plan for strategic growth. Ferrero plans to invest in and grow WK Kellogg Co's portfolio of brands across the US, Canada, and the Caribbean.

Ferrero Group has successfully completed its acquisition of WK Kellogg Co, marking a significant milestone in the company's strategy to acquire and grow iconic brands in North America FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[1]. The acquisition, which was announced on July 10, 2025, and approved by WK Kellogg Co shareholders on September 19, 2025, sees WK Kellogg Co becoming a wholly owned subsidiary of Ferrero FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[2].

The transaction, valued at $23.00 per share, has resulted in WK Kellogg Co shareholders receiving $23.00 in cash for each share they owned immediately prior to the closing. WK Kellogg Co has ceased trading and will no longer be listed on the New York Stock Exchange FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[1].

Ferrero's acquisition of WK Kellogg Co aligns with its strategy to expand its reach across more consumption occasions with beloved brands. The acquisition supports Ferrero's plan for strategic growth in North America, with the company planning to invest in and grow WK Kellogg Co's iconic portfolio of brands across the United States, Canada, and the Caribbean FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[1].

Ferrero, a global leader in sweet-packaged food, has a diverse portfolio of over 35 iconic brands available in over 170 countries. The acquisition of WK Kellogg Co will allow Ferrero to leverage its extensive brand portfolio and market presence to drive growth in North America FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[1].

Lazard acted as the lead financial advisor, with BofA Securities as co-advisor and Davis Polk & Wardwell LLP as legal counsel to Ferrero. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as financial advisors, while Kirkland & Ellis LLP acted as legal counsel to WK Kellogg Co FERRERO COMPLETES ACQUISITION OF WK KELLOGG CO^[1].