A Popular U.S. Breakfast Cereal Is Owned By An Italian Candy Giant

Both cereal and chocolate are regular staples of many American kitchens, and these sugary industries came together in a major way in 2025. In September of that year, the Italian candy manufacturer Ferrero – known for manufacturing products like Ferrero Rocher chocolate and Nutella — successfully acquired WK Kellogg Co., the company behind many of the biggest names in the cereal world. From best-sellers like Frosted Flakes to Apple Jacks and Rice Krispies, some of the most popular cereal brands in grocery stores fall under the Kellogg umbrella

Food conglomerates merging is not an unprecedented move – PepsiCo owns Quaker Oats, after all. The deal was valued at around $3.1 billion, finalizing at $23 per share with WK Kellogg Co.'s stock being promptly removed from the New York Stock Exchange at the time of acquisition. So, the next time you think you're overpaying for Kellogg's Rice Krispies at the grocery store, you may have Ferrero to thank. 

This wasn't the first big change WK Kellogg Co. underwent in recent years. In fact, it had divested from the original Kellogg's brand — now known as Kellanova — in 2023. While Kellanova went on to continue producing a wide array of snack foods, WK Kellogg Co. opted to zero in on the North American cereal market. Unfortunately, that strategy didn't seem to pay off: By the end of the 2024 fiscal year, the company's revenue, net income, and profit margin had all dropped year over year compared to 2023 (via Yahoo Finance), with its net income dropping a full 35% in that time frame.

In Q2 2025, the Securities Exchange Committee reported that the brand possessed assets worth around $742 million, but liabilities around $749 million, but it's difficult to know for certain how the company would have fared had it not been acquired. With that said, Ferrero has been on a steady and successful path of international expansion since the 1950s — so your favorite cereal likely has a bright future ahead. If nothing else, Ferrero seems optimistic about the breakfast industry as a whole, as it also acquired the Purely Elizabeth brand in August 2026.