Breakfast is the most important meal per day, and Giovanni Ferrero is known.
Scion and Executive President of Ferrero Group, the company behind the favorite like Nutella, Kinder, and Ferrero Rocher, announced its plans in July to get WK Kellogg, the FROSted Flakes and Froot Loops maker, in a deal worth $ 3.1 billion. The purchase will expand the presence of Ferrero in North America and reduce its dependence on chocolate products amid high international cocoa prices.
It also gives the Ferrero group an elevator against changing consumer preferences, as American shoppers are attracted towards snacks, low -price grains or the choice of healthy options.
Ferrero, the grandson of the company’s founders and the richest man in Italy, was in the field of acquisition since he took control of the company after the death of his father, Michel, in 2015. He added at least 21 companies across nine countries to his portfolio.
Ferrero Group, which operates in more than 170 countries and manage about 35 brands, and the Ferrero Group has reached 18.4 billion euros (about 21.5 billion dollars) in the past fiscal year, an increase of about 9 % over the previous period.
Kelog was subjected to a great restructuring. Russell Zwanka, director of the Food Marketing Program at the University of Michigan West, says that the brand, which originated in 1894 when Keith Keel developed corn flakes by mistake, was flexible in transporting breakfast transformations in breakfast directions, a movement to replace artificial dyes, and even re -focus in general on its healthy image and the well.
In 2023, the parent company separated its business in North America, which was called WK Kellogg, from the Global snack section, which was later sold to Mars, M & M Miss and Skittles.
“When you think about breakfast, you think about kelogg,” says Zohanka.
Married to two sons, Ferrero is a thirsty bike passenger, Mohsen, and the author published for three novels. At the head of the company that was established in Alba in 1946, the acquisition of WK Kellogg is a coronation achievement.
“Add a grain portfolio in Kellogg to the Ferrero mix in North America allows synergy in marketing messages, and cross -crossed chances – may be frozen nutella chips?” In the forefront (from that), many customers use pills as a light in the afternoon, where Ferrero already plays with some heavy brands. “
