In a bold expansion into breakfast territory, Italian chocolate giant Ferrero is buying WK Kellogg for $3.1 billion. The deal sent Kellogg shares soaring by 30%, signaling strong investor appetite for consumer staples consolidation. Ferrero, known for Nutella and Kinder, is looking to diversify its portfolio beyond confections. WK Kellogg, which split from Kellogg Co. last year, brings classic cereal brands into Ferrero’s ecosystem. This acquisition reflects renewed interest in pantry staples — especially as inflation-pressed shoppers opt for affordable at-home meals. Expect more M&A deals in the food aisle in the coming quarters.
