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Boxes of Frosted Flakes and Froot Loops, both manufactured by Kellog, on a store shelf. Photo: Joe Raedle/Getty Images
Breakfast cereal maker WK Kellogg on Thursday said that it has agreed to be acquired for $3.1 billion by Ferrero International, the Italian maker of Nutella.
The big picture: Kellogg has struggled recently due to healthier-eating trends and inflation, particularly since its 2023 split with a snacking unit that got renamed Kellanova.
