WK Kellogg Co announced today that it’s been bought by The Ferrero Group. The Italian multinational company makes candy and chocolate products including Nutella, Tic-Tac and Butterfinger.
In a joint statement, both companies said Ferrero will acquire all of WK Kellogg Co., which makes the brand’s cereals. The release said Battle Creek will remain a “core location” for the company and will serve as Ferrero’s headquarters for its North American cereal operations.
The city of Battle Creek said in a press release on Thursday that its leaders were still learning the details of the sale and how it might impact the community.
"We welcome Ferrero to Battle Creek,” Mayor Mark Behnke said in the release. “We look forward to building a strong, long-term relationship that supports their success and secures their presence in our community for years to come.”
Interim city manager Ted Dearing added that Kellogg had a strong commitment to Battle Creek. “We are hopeful that this commitment will continue under Ferrero’s ownership," Dearing said in the statement.
Maryann Vassallo owns Barista Blues coffee shop in downtown Battle Creek. She said she’s hopeful the company will succeed under new ownership.
“It's a shame to see Kellogg break apart their business like that," Vassallo said. "But I think that the new company will do well. [The] community is awesome here - they'll welcome it with open arms and I hope that we can become a home to them.”
Vassallo said that if layoffs and downsizing were to occur, she's confident that the community would persevere.
“I have great customers that work at Kellogg's, but I don't think that this town revolves or any town revolves around one business. I think it's the people that live here that invest in your community, that send their kids here, that buy houses, that buy cars, that go to church, that shop here," Vassallo said.
Both companies said Kellogg shareholders will meet as soon as possible to approve the merger. The Detroit Free Press reports the sale is expected to be finalized toward the end of the year.
