The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.

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

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.

The creator of a number of breakfast-table staples is getting a new owner as Ferrero Group and WK Kellogg Co. have announced a deal that will see Kellogg folded into the corporate parent of such brands as Nutella, Tic Tac, Butterfinger, Baby Ruth, Famous Amos, and Bomb Pop.

Nutella prices may soon climb after Turkey — the world’s top hazelnut producer — was hit by a devastating spring frost that wiped out large swathes of crops. As the firm behind the brand faces rising raw material costs,

This could impact Nutella prices as its Italian maker, Ferrero, buys about a quarter of Turkey’s hazelnut output, according to Bloomberg. The hazelnut supply squeeze could also affect Ferrero Rocher chocolates, another popular candy.

Ferrero has signed a deal to take WK Kellogg private in an agreement worth $3.1 billion, The Associated Press reported.

Out of all the snacks I was able to try at the expo, the one I'm most excited for is unfortunately also the most elusive - it doesn't launch until spring 2026. News of a new peanut-flavored Nutella sent fans (and our editors) into a frenzy, and I got to be among the lucky first to try it.