The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

Giovanni Ferrero has expanded his family's company beyond brands like Nutella and built a global powerhouse—especially through big acquisitions in the U.S.

Kellogg’s, famous for making Frosted Flakes and Froot Loops, has struck a deal to be being for $3.1 billion by the Ferrero Group, which owns Nutella and Kinder.

Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal.

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

An Italian candy company is looking to buy the breakfast cereal maker WK Kellogg in a business deal that would cost roughly $3 billion. Ferrero Group, which makes the little hazelnut candies Ferrero Rocher,