This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Dive Brief: Ferrero named company insider Jean-Baptiste Santoul as chief operating officer for the WK Kellogg business, tasking the former chief sales and business development officer with overseeing the Rice Krispies and Froot Loops giant it recently purchased for $3.1 billion.  The Nutella maker also announced that Gary Pilnick, who was CEO of WK Kellogg, left at the ...

Core Insights - Ferrero is investing €140 million ($162.3 million) to modernize its ice cream plant in Alzira, Valencia, aiming to establish it as the European technology hub for ice cream development [1][2] - The project will expand production capacity, modernize processes, and introduce new technologies, with new production lines expected to be operational before 2030 [1] - The Alzira facility will focus on branded products, discontinuing private-label production by the end of 2026, while other Ferrero ice cream plants will continue operations as usual [2] Employment and Operations - Ferrero guarantees job continuity for all employees during the modernization process, although some may take on new responsibilities [3] - The company acquired a controlling stake in the ICFC plant in 2019 and completed full acquisition in 2021 [3] Other Investments - In April, Ferrero announced a C$445 million ($321 million) investment to expand its production site in Brantford, Canada, including new production lines for Nutella biscuits and Ferrero Rocher chocolate squares [4] - In August of the previous year, Ferrero planned to invest approximately €170 million ($189 million) to upgrade its Stadtallendorf facility in Germany [4]

Company Leadership & Strategy - Giovanni Ferrero 自 2015 年成为家族糖果制造商的唯一领导者 [1] - 公司通过在美国进行大规模收购，扩展到 Nutella 等知名品牌之外，建立了一个全球强国 [1]

Company Leadership & Strategy - Giovanni Ferrero 自 2015 年成为家族糖果公司的唯一领导者 [1] - 公司通过在美国的大规模收购，扩展到 Nutella 等知名品牌之外，建立了一个全球性的强大企业 [1]

Company Leadership & Strategy - Giovanni Ferrero became the sole leader of his family's candy maker in 2015 [1] - The company has expanded beyond well-known brands like Nutella [1] - Ferrero has built a global powerhouse, especially through acquisitions in the U S [1]

Core Viewpoint - Ferrero is pursuing an acquisition strategy to expand its presence in the breakfast cereal market by acquiring WK Kellogg for $23 per share, nearly double its pre-split market value, aiming to diversify beyond confectionery and strengthen its North American food business [4][5]. Group 1: Acquisition Details - Ferrero announced the acquisition of WK Kellogg, which includes a portfolio of iconic breakfast cereal products such as Frosted Flakes, Froot Loops, and Special K, along with six manufacturing plants and distribution networks in North America [4][5]. - The deal has been unanimously approved by WK Kellogg's board and is expected to close in the second half of 2025 [4]. Group 2: Market Context - The North American breakfast cereal market has seen a decline of approximately 17% since 2019, driven by changing consumer preferences towards healthier and more convenient breakfast options [8]. - WK Kellogg's financial performance has deteriorated, with Q1 FY2025 revenue at $663 million, down 6.22% year-over-year, and net profit at $18 million, down 45.45% year-over-year [9]. Group 3: Ferrero's Strategic Growth - Ferrero aims to leverage the acquisition to enhance its influence in various consumer scenarios and diversify its product offerings beyond confectionery [5][12]. - The acquisition will provide Ferrero with a 28% market share in the North American breakfast cereal segment, making it the second-largest player in this market [12].

Company Leadership - Giovanni Ferrero 自 2015 年成为家族糖果公司的唯一领导者 [1] - Giovanni Ferrero 担任执行主席期间，公司已扩展到 Nutella 等知名品牌之外 [1] - 公司已发展成为全球行业巨头 [1]

Company Leadership - Giovanni Ferrero 自 2015 年成为家族糖果制造商的唯一领导者 [1] - Giovanni Ferrero 担任执行董事长期间，公司已扩展到 Nutella 等知名品牌之外 [1] Business Expansion - 公司已发展成为全球强国 [1]

Company Leadership - Giovanni Ferrero became the sole leader of his family's candy maker in 2015 [1] - Giovanni Ferrero expanded beyond well-known brands like Nutella [1] - The company has built a global powerhouse under Giovanni Ferrero's leadership [1]

Company Leadership - Giovanni Ferrero 自 2015 年成为家族糖果制造商的唯一领导者 [1] - Giovanni Ferrero 担任执行主席 [1] Company Expansion - 公司已扩展到 Nutella 等知名品牌之外 [1] - 公司已发展成为全球强国 [1]